SAN DIEGO, April 11, 2019 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Papa Murphy's Holdings,
Inc. (NASDAQ: FRSH) ("Papa Murphy's") breached their fiduciary
duties in connection with the proposed sale of the Company to MTY
Food Group Inc. ("MTY")
On April 11, 2019, Papa Murphy's
announced that it had signed a definitive merger agreement with
MTY. Under the terms of the merger agreement, MTY will acquire all
of the outstanding shares of Papa Murphy's in an all-cash
transaction. Papa Murphy's shareholders will receive $6.45 per share in cash.
The investigation concerns whether the Papa Murphy's board
failed to satisfy its duties to the Company shareholders, including
whether the board adequately pursued alternatives to the
acquisition and whether the board obtained the best price possible
for Papa Murphy's shares of common stock. Nationally recognized
Johnson Fistel is investigating
whether the proposed deal represents adequate consideration,
especially given analysts' projections for future earnings growth,
also one Wall Street analyst has a $7.00 price target on the stock.
If you are a shareholder of Papa Murphy's and believe
the proposed buyout price is too low or you're interested in
learning more about the investigation or your legal rights and
remedies, please contact lead analyst Jim
Baker (jimb@johnsonfistel.com) at
619-814-4471. If emailing, please include a
phone number.
Additionally, you can [Click here to join this action].
There is no cost or obligation to you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
https://www.johnsonfistel.com. Attorney advertising. Past results
do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP