Rigrodsky & Long, P.A. announces that it is continuing its investigation of potential claims against the board of directors of Benihana Inc. (“Benihana” or the “Company”) (NASDAQ GS: BNHN) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Angelo, Gordon & Co. (“Angelo Gordon”) in a transaction valued at approximately $296 million. Click here to learn more: http://www.rigrodskylong.com/investigations/benihana-inc-bnhn. Under the terms of the buyout agreement, public shareholders of Benihana will receive $16.30 per share in cash for each share of Benihana they own. According to Yahoo! Finance, at least one analyst has set a price target for Benihana stock at $17.30 per share. If you own the common stock of Benihana and purchased your shares before May 22, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/benihana-inc-bnhn. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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.