Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/jax) is investigating potential claims against the board of directors of J. Alexander's Corp. (“J. Alexander’s” or the “Company”) (NASDAQ: JAX) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell J. Alexander’s to Fidelity National Financial Inc. in a transaction valued at approximately $72 million. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of J. Alexander’s. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/jax. Under the terms of the transaction, J. Alexander’s shareholders may elect to receive either: (i) $12 in cash; or (ii) a combination of $3 in cash and one share of Class A common stock of American Blue Ribbon Holdings Inc. (“ABRH”), subject to proration at closing so that the J. Alexander's shareholders that receive stock will own a total of 49.9% of the shares in ABRH for each share of stock they own. J. Alexander’s then will merge with a unit of ABRH, a newly-formed subsidiary of Fidelity. If you own shares of J. Alexander’s and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/jax. You may also email Mr. Maniskas at email@example.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com. Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
Shares of J. Alexander's Corporation (Nasdaq:JAX) have taken a tremendous swing upward. The stock is trading at $9 as of 9:30 a.m. ET, 30.4% above Thursday's closing price of $6.90. Volume is at 13,800, 0.8 times the daily average of 17,900.