Stull, Stull & Brody Announces Investigation Of McCormick & Schmick’s Seafood Restaurant
Attorney Advertising. Stull, Stull & Brody has commenced an investigation on behalf of purchasers of McCormick & Schmick’s Seafood Restaurant (“McCormick & Schmick’s” or the “Company”) (NASDAQ:MSSR) common stock concerning potential violations of the federal securities laws and/or breaches of fiduciary duties by McCormick & Schmick’s and certain of its officers and directors. If you own shares of McCormick & Schmick’s common stock and wish to discuss your rights or interests you may contact Stull, Stull & Brody at the address set forth below with no cost or obligation.
On November 8, 2011, McCormick & Schmick’s announced that it had signed a definitive agreement with Landry’s MSA Co., Inc., a subsidiary of Landry’s Restaurants, Inc (“Landry’s”), to acquire all of McCormick & Schmick’s common stock through an all cash tender offer of $8.75 per share. Upon the completion of the tender offer, Landry’s will acquire all remaining shares of McCormick & Schmick’s through a second-step merger, (i.e. by a squeeze-out merger of the remaining target company shareholders), if Landry’s controls a majority of McCormick & Schmick’s shares after the tender offer.
The $8.75 per share offer is below analyst target prices for the Company’s shares which range from $9 to $12 per share, below the Company’s 52 week high of $10.47, and below the prices at which McCormick & Schmick’s stock traded on August 2, 2011. The offer is also below a $9.25 per share tender offer commenced by Landry’s in April of 2011.
The current investigation by Stull, Stull & Brody concerns (1) whether the Company’s directors breached their fiduciary duties to stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this transaction and (2) whether the proposed transaction undervalues the Company’s shares to the detriment of McCormick & Schmick’s shareholders.If you purchased or own McCormick & Schmick’s common stock and wish to discuss your rights or interests regarding this matter you may contact Aaron L. Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983 or 1-212-687-7230, or by email to firstname.lastname@example.org or by writing to Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017. Stull, Stull & Brody has litigated many class actions for violations of securities laws and breaches of fiduciary duty on behalf of defrauded investors over the past 40 years and has obtained court approval of substantial settlements on numerous occasions. Stull, Stull & Brody has offices in New York and Los Angeles. Additional information about Stull, Stull & Brody can be found on the firm’s website at www.ssbny.com. Attorney advertising. Prior results do not guarantee a similar outcome.
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