Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Landry’s Restaurants, Inc. (“Landry’s” or the “Company”) (NYSE:LNY) related to the Company’s agreement to be acquired by a company wholly owned by Tilman J. Fertitta (“Fertitta”) – Landry’s Chairman, President and Chief Executive Officer. The proposed all-cash transaction is valued at approximately $1.4 billion.
Under the terms of the merger agreement entered into by the parties, the Fertitta company will acquire all of the Landry’s outstanding common stock not already owned by Tilman J. Fertitta for $24.00 per share in cash. As of May 23, 2010, Fertitta beneficially owned approximately 55% of the Company’s outstanding shares of common stock. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by the Landry’s board of directors.
If you own shares of Landry’s, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.