LOS ANGELES, July 2, 2012 /PRNewswire/ --The Lin Law Firm, A Professional Law Corporation ( www.thelinlawfirm.com) is investigating potential claims against the Board of Directors of J. Alexander's Corporation ("J. Alexander" or the "Company") (NASDAQ: JAX) related to the proposed acquisition of the Company by Fidelity National Financial, Inc. in a transaction valued at approximately $72 million. Under the terms of the proposed transaction, J. Alexander's shareholders may elect to receive either (i) $12 per share in cash or (ii) $3 in cash and a share of Class A common stock of American Blue Ribbon Holdings Inc. This investigation concerns whether the Company's Board of Directors breached their fiduciary duties to shareholders by failing to maximize shareholder value, whether they acted in shareholders' best interests, whether the Company has disclosed all material information to its shareholders, and whether the proposed consideration to be paid to Company shareholders is fair and adequate. The offer represents only a 6 percent economic interest in Fidelity's combined restaurant operations to J. Alexander's shareholders. If you currently own shares of J. Alexander 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, please contact Elizabeth Lin, Esq., The Lin Law Firm, by telephone at (909) 595-5522 or toll-free at (866) 864-3898, by email to elizabethL@thelinlawfirm.com, or visit www.thelinlawfirm.com/contact/. The Lin Law Firm, A Professional Law Corporation, is a litigation law firm committed to representing investors nationwide in securities matters and protecting investors against corporate wrongdoing. For additional information, please visit www.thelinlawfirm.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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.