The Law Office of Abe Shainberg Announces an Investigation into the Possible Breaches of Fiduciary Duty by the Board of Burge...
September 03 2010 - 11:24AM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Burger King Holdings, Inc. (NYSE: BKC) for possible
breaches of fiduciary duty and other violations of state law in
connection with their attempt to sell the Company to 3G Capital in
a going-private transaction. Under the terms of the deal, Burger
King shareholders will receive $24.00 in cash per share of common
stock for a total transaction value of approximately $3.3
billion.
The investigation concerns whether the Burger King Board of
Directors breached their fiduciary duties to Burger King
stockholders by failing to adequately shop the Company before
entering into this transaction and whether 3G is underpaying for
Burger King shares. For the quarter ending June 30, 2010, Burger
King reported total revenue of $623 million and net income of $49
million as compared to total revenue and net income of $596.90
million and $41 million, respectively, for the prior quarter.
If you own common stock in Burger King and wish to obtain
additional information, please contact Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/burger-king-holdings-bkc.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
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