|[May 01, 2012]
P.F. Chang's Going Private Alert: The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of the Buyout of P.F. Chang's by Centerbridge Partners, LP
DALLAS --(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor, LLP are investigating the sale of P.F.
Chang's China Bistro, Inc. ("P.F. Chang's") (NASDAQ: PFCB) to the
private equity group Centerbridge Partners, L.P. for shareholders. Under
the proposed going-private purchase agreement, P.F. Chang's shareholders
will receive only $51.50 in cash for each share of P.F. Chang's stock
If you are n affected investor, and you want to learn more about the
lawsuit or join the action, contact Patrick Powers at Powers Taylor,
LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org,
or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via
email at WBriscoe@TheBriscoeLawFirm.com.
There is no cost or fee to you.
The definitive merger agreement involves an all cash transaction with a
total equity value of approximately $1.1 billion, which will commence
with a tender offer no later than May 15, 2012. The transaction is
expected to close in the third quarter of 2012.
The investigation centers on whether P.F. Chang's shareholders are
receiving adequate compensation for their shares in the buyout, whether
the transaction undervalues P.F. Chang's stock, and whether P.F. Chang's
board attempted to obtain the highest share price for all shareholders
prior to agreeing to the deal. Specifically, although the acquisition
price represents an approximate 30% premium over the closing price of
P.F. Chang's shares the day prior to the buyout announcement, P.F.
Chang's recently reported positive revenue growth in the first quarter
of 2012 compared to the same quarter in 2011. Based on this, and other
factors, the firms are investigating whether the acquisition price is
fair and adequate for P.F. Chang's shareholders.
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Taylor, LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
[ Back To SIP Trunking Home's Homepage ]