Law Firm Brower Piven Announces Investigation in Connection With Dreams, Inc. Buyout

The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Dreams, Inc. (NYSE Amex: DRJ) (“Dreams”) and other violations of state law by the board of directors of Dreams relating to the proposed buyout of the company by privately owned Fanatics, Inc. (“Fanatics”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.

On April 16, 2012, Dreams announced that it had entered into an agreement providing for Fanatics to acquire Dreams in a transaction valued at approximately $183 million. Under the terms of the buyout transaction, Dreams shareholders will receive $3.45 for each share of Dreams common stock held. However, according to Yahoo! Finance, analysts have set a median price target of $4.50 per share, with at least one analyst setting a high price target of $5.00 per share.

According to the press release announcing the transaction, Dreams President and CEO Ross Tannenbaum, Chairman Sam Battistone and other shareholders, who collectively own approximately 35% of the outstanding shares of Dreams, have already agreed to vote their shares in favor of the transaction.

If you currently own shares of Dreams and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [e-mail], by calling [phone], or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.