Rigrodsky & Long, P.A. Investigates Burger King Holdings, Inc. Buyout
September 02 2010 - 11:20AM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Burger King
Holdings, Inc. (“Burger King” or the “Company”) (NYSE:BKC)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired and taken private by 3G Capital in a transaction valued at
approximately $4 billion.
(http://www.rigrodskylong.com/news/BurgerKingHoldingsInc.-BKC).
Under the proposed agreement, 3G Capital will shortly commence
an all-cash tender to acquire to acquire 100 percent of the
outstanding common stock of Burger King for $24.00 per Burger King
share. In addition, affiliates of TPG Capital LP, Goldman Sachs
Capital Partners and Bain Capital Investors, which own
approximately 31 percent of the Company’s outstanding shares in the
aggregate, have entered into agreements pursuant to which they will
tender their shares into the offer.
The investigation concerns whether Burger Kings’s board of
directors failed to adequately shop the Company and obtain the best
price possible for Burger Kings’s shareholders before entering into
the agreement with 3G Capital. Moreover, Burger King Chairman and
CEO, John Chidsey, will remain through the transition period in his
current capacity and subsequently assume a newly created position
of Co-Chairman of the Board.
If you own the common stock of Burger King and purchased your
shares before September 2, 2010, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware, by telephone at (888)
969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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