True Religion Apparel (TRLG) Lower as Sale Seen as Less Likely

January 8, 2013 9:52 AM EST
True Religion Apparel, Inc. (NASDAQ: TRLG) is seeing early weakness on negative speculation and analyst commentary about a potential sale.

In the fall, True Religion said it receiving indications of interest from third parties regarding a potential transaction with the Company, the Board of Directors has formed a Special Committee comprised of its non-management directors to explore and evaluate potential strategic alternatives available to the Company, including a possible sale, in order to maximize shareholder value.

Shares of True Religion last traded at $24.82, down 2.5%.

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