Bloomberg reported that the True Religion jeans company agreed to be bought out for $325 million.
A shareholder suit now alleges that the jeans company is worth more than than and that the company erroneously agreed to a below market value buyout.
Our question: "True Religion’s women’s Cameron Vintage “Boyfriend” jeans cost $317 for a pair, while the women’s Carrie Patchwork Flare jean are listed at $323, according to the company’s website." Who buys jeans for more than $300 a pair?
And yes, it looks like True Religion is Jewish, at least that its founder is Jewish. "True Religion was founded in 2002 by Jeffrey Lubell, who began embellishing jeans as a teen growing up in New York. He took the company public the following year, according to its website. True Religion operated 124 stores in the U.S. and 31 international locations as of March 31."
The buyers may not all be Jewish, "TowerBrook is a New York-based private-equity firm founded by Ramez Sousou and Neal Moszkowski, who also serve as co-CEOs. Its previous retail investments include the Jimmy Choo Ltd luxury brand, acquired by Labelux GmbH in 2011."