Levi & Korsinsky is investigating the Board of Directors of McCormick & Schmick’s Seafood Restaurants (“McCormick & Schmick’s” or the “Company”) (NASDAQ: MSSR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Landry’s MSA Co., Inc., a subsidiary of Landry’s, Inc. Under the terms of the transaction, McCormick & Schmick’s shareholders will receive $8.75 per share in cash for each share of McCormick & Schmick’s they own. The transaction has a total approximate value of $131.6 million.
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The investigation concerns whether the McCormick & Schmick’s Board of Directors is undertaking a fair process to obtain maximum value for its shareholders. In particular, the Company adopted a poison pill in April, thwarting a hostile takeover in which shareholders would have received $9.25 per share. Furthermore, shares of McCormick & Schmick’s traded as high as $9.15 per share as recently as May of this year.
If you own common stock in McCormick & Schmick’s and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.