Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Peet’s Coffee & Tea, Inc. (NasdaqGS: PEET) arising from its agreement for Peet’s to be acquired by closely-held holding company Joh. A. Benckiser (“JAB”) for $73.50 per share.
If the deal is consummated, Peet’s will become privately owned, and continue to be operated by the Company’s current management team. Therefore, while Company executives are able to retain their positions and benefit from a liquidity event, Peet’s shareholders will be denied the opportunity to benefit from the Company’s growth.
Accordingly, Weiss & Lurie is investigating whether the Board of Peet’s acted in the best interests of shareholders in approving this deal. Prior to the deal’s announcement, several analysts following Peet’s had set the price target of its stock at or above $80 per share, with a high target of $95 per share. Indeed, Peet’s stock hit an all-time high of $77.60 per share on March 28, 2012 and generally traded near or above the $73.50 per share offer price throughout April 2012.
If you own Peet’s shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing( including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.