NEW YORK, Feb. 6, 2012 /PRNewswire/ -- Tripp Levy PLLC, a
leading national securities law firm, notifies investors of
O'Charley's Inc. (NASDAQ: CHUX) of potential claims of breaches of
fiduciary duty and other violations of state law against the board
of directors of O'Charley's in connection with the sale of the
company to Fidelity National Financial, Inc. (NYSE: FNF). It
was announced today Fidelity acquired to acquire all of the
outstanding common stock of O'Charley's that it does not currently
own for $9.85 per share in cash. FNF
currently owns 2,079,542, or 9.5%, of the outstanding shares of
common stock of O'Charley's.
Under the terms of the definitive agreement, Fidelity intends to
commence a tender offer for all of the outstanding shares of common
stock of O'Charley's that it does not currently own on or about
February 24, 2012. The initial tender
is expected to expire on April 2,
2012, and to close shortly thereafter, assuming that shares
that, combined with FNF's existing 9.5% ownership stake, represent
more than a majority of the outstanding shares of O'Charley's are
properly tendered and not withdrawn.
The investigation concerns whether the O'Charley's Board of
Directors breached their fiduciary duties to stockholders by
failing to adequately shop the company before entering into this
transaction and whether Fidelity is underpaying for O'Charley's
shares, thus unlawfully harming stockholders.
If you own O'Charley's common stock and you wish to discuss this
matter with us, or have any questions concerning your rights and
interests with regard to this matter, please contact
Tripp Levy
Tripp Levy PLLC
125 East 82nd Street
9th Floor
New York, New York
Toll Free: 877-772-3975
Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in
mergers & acquisitions, takeover litigation, shareholder
rights, and corporate governance matters in state and federal
courts throughout the United
States. Attorney advertising. Prior results do not guarantee
a similar outcome.
SOURCE Tripp Levy PLLC