BALA CYNWYD, Pa., May 24, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Benihana, Inc. ("Benihana" or the "Company") (Nasdaq- BNHN) relating to the proposed acquisition by Angelo, Gordon & Co. ("Angelo"). Under the terms of the transaction, Benihana shareholders would receive only $16.30 in cash for each share of Benihana stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Benihana for not acting in the Company's shareholders' best interests in connection with the sale process to Angelo. For example, the transaction is below an analyst price target of $17.30 per share. If you own shares of Benihana stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com visiting http://brodsky-smith.com/430-bnhn-benihana-inc.html, or by calling toll free 877-LEGAL-90. SOURCE Brodsky & Smith, LLC
Shares of Benihana (Nasdaq:BNHN) have taken a tremendous swing upward. The stock is trading at $16.15 as of 10:05 a.m. ET, 21.4% above Monday's closing price of $13.30. Volume is at 1.7 million, 31.1 times the daily average of 55,900.
Shares of Benihana (Nasdaq:BNHN) were gapping up Wednesday morning with an open price 16.7% higher than Tuesday's closing price. The stock closed at $14.22 yesterday and opened today's trading at $16.59.