CORRECTING & REPLACING Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Diedrich Coffee, Inc.
November 03 2009 - 11:14PM
Business Wire
Please replace the release with the following corrected version
due to revised second graph.
The corrected release reads:
LAW OFFICES OF HOWARD G. SMITH
ANNOUNCES INVESTIGATION ON BEHALF OF SHAREHOLDERS OF DIEDRICH
COFFEE, INC.
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Diedrich Coffee, Inc. (“Diedrich Coffee” or the “Company”)
(Nasdaq:DDRX) for possible breaches of fiduciary duty and other
violations of state law in connection with their attempt to sell
the Company to Peet’s Coffee & Tea, Inc. (“Peet’s”)
The investigation concerns the price to be paid by Peet’s to
Diedrich Coffee shareholders and the process by which Diedrich
Coffee’s Board of Directors is addressing the transaction. Under
the terms of the proposed transaction, 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 transaction appears to be unfair 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, if you have information or would
like to learn more about these claims, 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
visit www.howardsmithlaw.com. You may also email my firm at
howardsmith@howardsmithlaw.com.
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