[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

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 owned.

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 patrick@powerstaylor.com, 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.

The 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.

Powers 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.

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