September 1, 2015 (Shareholders Foundation) - An investigation on behalf of investors, who currently hold shares of Steiner Leisure Ltd (NASDAQ:STNR), was announced concerning whether the takeover of Steiner Leisure Ltd. by an affiliate of Catterton for $65 per share is unfair to NASDAQ:STNR stockholders.

The investigation by a law firm concerns whether certain officers and directors of Steiner Leisure breached their fiduciary duties owed to NASDAQ:STNR investors in connection with the proposed acquisition.

On August 21, 2015, Steiner Leisure Ltd (NASDAQ:STNR) announced that they have entered into a merger agreement under which an affiliate of Catterton will acquire all of the outstanding shares of Steiner Leisure for $65 per share in cash.

However, given that at least one analyst has set the high target price for NASDAQ:STNR shares at $67.00 per share, the investigation concerns whether the offer is unfair to Steiner Leisure Ltd (NASDAQ:STNR stockholders. More specifically, the investigation concerns whether the Steiner Leisure Ltd (NASDAQ:STNR Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Steiner Leisure Ltd reported that its annual Total Revenue rose from $701.63 million in 2011 to $863.45 million in 2014. Shares of Steiner Leisure Ltd (NASDAQ:STNR) grew from $36.28 per share in October 2014 to as high as $58.93 per share on August 17, 2015.