Law Firm Brower Piven Announces Investigation In Connection With Benihana Inc. Buyout
The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Benihana Inc. (NASDAQ: BNHN) (“Benihana”) and other violations of state law by the board of directors of Benihana relating to the proposed buyout of the company by funds advised by Angelo, Gordon & Co.’s (“Angelo Gordon”) Private Equity Group. The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On May 22, 2012, Benihana announced that it had entered into a definitive merger agreement providing for Angelo Gordon to acquire Benihana for approximately $296 million. Under the terms of the buyout transaction, Benihana shareholders will receive $16.30 for each share of Benihana common stock held. However, according to Yahoo! Finance, analysts have set a mean price target of $17.30 per share.
If you currently own shares of Benihana and would like to learn more
about the investigation being conducted by Brower Piven, you may email
or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV