The Law Firm of Weiss & Lurie Investigates Peet’s Coffee & Tea, Inc.
24 Juillet 2012 - 9:35PM
Business Wire
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
info@weisslurie.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 info@weisslurie.com 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.
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