Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of McCormick & Schmick's Seafood Restaurants, Inc. (“McCormick & Schmick’s” or “MSSR”) (NASDAQ: MSSR) to Landry's MSA Co., Inc., a subsidiary of Landry's, Inc. for shareholders. Under the proposed acquisition agreement, MSSR shareholders will receive $8.75 in cash for each share of MSSR stock owned.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves a transaction valued at approximately $131.6 million. The Company has stated that Landry's will finance the transaction through a combination of cash and debt, for which it has arranged financing. The transaction is expected to be completed in late December 2011 to early January 2012.
“We are investigating the fairness of the proposed transaction to MSSR shareholders and whether McCormick & Schmick’s Board of Directors acted in the shareholders’ best interest,” said shareholder rights attorney Willie Briscoe. In particular, MSSR shares have traded as high as $9.14 on May 3, 2011. Based on these and other factors, the firms are investigating whether the transaction undervalues MSSR stock and whether McCormick & Schmick’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters. Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.