ZOES ALERT: Johnson Fistel Investigates Proposed Sale of Zoe's Kitchen, Inc.; Are Shareholders Getting a Fair Deal?
SAN DIEGO, Aug. 17, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Zoe's Kitchen, Inc. (NYSE: ZOES) breached their fiduciary duties in connection with the proposed sale of the Company to Cava Group, Inc. ("Cava").
On August 17, 2018, Zoe's announced that it had signed a definitive merger agreement with Cava. Under the terms of the agreement, Zoe's shareholders will receive $12.75 in cash for each share of common stock they hold.
The investigation concerns whether the Zoe'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 Zoe's shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given one Wall Street analyst has a $14.00 price target on the stock. The 52-week high for Zoe's stock was $17.65.
If you are a shareholder of Zoe'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 ([email protected]) at 619-814-4471. If emailing, please include a phone number.
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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 http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]
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SOURCE Johnson Fistel, LLP
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