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SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation into Fairness of Fiesta Restaurant's $8.50 Per Share Stockholder Buyout Announcement - FRGI
August 17, 2023 12:14 PM EDT | Source: Kaskela Law LLC
Philadelphia, Pennsylvania--(Newsfile Corp. - August 17, 2023) - Kaskela Law LLC announces that it is investigating the fairness of the proposed buyout of Fiesta Restaurant Group, Inc. ("Fiesta") (NASDAQ: FRGI) shareholders by Authentic Restaurant Brands ("ARB") at $8.50 per share.
The $8.50 per share buyout price appears to undervalue Fiesta's shares. Notably, shares of Fiesta's stock traded at over $9.00 per share less than two months prior to the announcement of the proposed buyout, and at least one analyst recently assigned a $13.00 per share price target on Fiesta's shares.
The investigation has uncovered significant potential conflicts of interest in the proposed buyout, and seeks to determine (i) whether $8.50 per share represents maximum achievable cash consideration for Fiesta's shareholders, and (ii) whether Fiesta's officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to ARB at $8.50 per share.
Current Fiesta shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750, or by email (skaskela@kaskelalaw.com / abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/fiesta-restaurant-group/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177611