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Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of McCormick & Schmick’s Seafood Restaurants, Inc. (“McCormick & Schmick” or the “Company”) (Nasdaq - MSSR) relating to the proposed acquisition by a subsidiary of Landry’s Inc.
Under the terms of the transaction McCormick & Schmick shareholders would receive $8.75 in cash for each share McCormick & Schmick stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of McCormick & Schmick for not acting in the Company’s shareholders' best interests in connection with the sale process to Landry’s. The transaction may undervalue McCormick & Schmick as McCormick & Schmick stock traded at $11.64 on April 14, 2010 and traded at $9.26 as recently as July 21, 2011. In addition, in April of 2011 the Company adopted a poison pill to prevent a hostile takeover at $9.25 per share.
If you own shares of McCormick & Schmick stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at
http://brodsky-smith.com/357-mssr-mccormick--schmicks-seafood-restaurants-inc.html, or by calling toll free 877-LEGAL-90.