Law Offices of Howard G. Smith Announces Continued Investigation of Peet’s Coffee & Tea, Inc.
25 Julho 2012 - 2:10PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Peet’s Coffee & Tea, Inc. (“Peet’s” or the “Company”) (NASDAQ:
PEET) related to the proposed acquisition of the Company by Joh. A.
Benckiser. The transaction is valued at approximately $1 billion or
$73.50 per share.
This investigation concerns whether the Board of Directors of
Peet’s breached their fiduciary duties to stockholders by failing
to adequately shop the Company before agreeing to enter into the
proposed transaction, and whether the Company has disclosed all
material information to shareholders about the transaction. The
Company has seen substantial recent growth. Its share price has
skyrocketed from $52.16 on September 21, 2011 to $75.23 on May 1,
2012. Further, at least one analyst has set a target price for the
Company’s stock at $95.00. Moreover, according to an article in the
Wall Street Journal, the Company’s CEO recently stated the Company
wasn’t shopping itself to potential suitors, putting into question
the process that led up to the proposed transaction.
If you are a shareholder of Peet’s, if you have information or
would like to learn more about our investigation, 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 Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at
888-638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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