Law Office of Brodsky & Smith, LLC Announces Investigation on Behalf of Shareholders of Diedrich Coffee, Inc.
November 03 2009 - 2:07PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Diedrich Coffee, Inc. (“Diedrich Coffee” or the “Company”)
(Nasdaq:DDRX) relating to the proposed acquisition by Peet’s Coffee
& Tea, Inc. (“Peet’s”). Peet’s has agreed to acquire Diedrich
Coffee in a deal valued at approximately $213 million.
Under the proposed agreement, Diedrich Coffee shareholders will
receive $17.33 in cash and a fraction of a Peet’s share valued at
about $8.67 for every share of Diedrich Coffee common stock they
own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law related to the Diedrich Coffee
board’s approval of the proposed merger. The transaction appears to
be unfair, in part, given that Diedrich Coffee stock was trading at
$29.88 a share as recently as October 22, 2009 and was trading at
$25.39 a share on August 4, 2009.
If you own shares of Diedrich Coffee and wish to discuss the
legal ramifications of the proposed acquisition, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
clients@brodsky-smith.com, or by calling toll free
877-LEGAL-90.
Diedrich Coffee (MM) (NASDAQ:DDRX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Diedrich Coffee (MM) (NASDAQ:DDRX)
Historical Stock Chart
From Jul 2023 to Jul 2024