A lawsuit was filed for investors in shares of Zoe’s Kitchen, Inc. (NYSE: ZOES) in connection with the proposed takeover and NYSE: ZOES stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/09/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Zoe's Kitchen, Inc. (NYSE: ZOES), filed a lawsuit against the takeover of Zoe's Kitchen, Inc.
Investors who purchased shares of Zoe's Kitchen, Inc. (NYSE: ZOES) and currently hold any of those NYSE: ZOES shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: ZOES stockholders by agreeing to sell Zoe's Kitchen, Inc. cheaply via an unfair process.
On August 17, 2018, Zoe's Kitchen, Inc. (NYSE: ZOES) announced that it has entered into an agreement to be acquired in a transaction by privately held Cava Group, Inc. Under the terms of the agreement, Zoe's Kitchen, Inc. (NYSE: ZOES) shareholders will receive $12.75 in cash for each share of common stock they hold.
However, plaintiff claims that the proposed consideration NYSE: ZOES shareholders will receive is grossly inadequate and undervalues Zoe's Kitchen, Inc. Indeed, at least one analyst has set the high target price for NYSE: ZOES shares at $13.00 per share. Zoe's Kitchen, Inc. reported that its annual Total Revenue rose from $275.96 million in 2016 to $314.1 million in 2017. Shares of Zoe's Kitchen, Inc. (NYSE: ZOES) reached as high as $45.40 per share in July 2015. In addition, the plaintiff alleges that the process is also unfair NYSE: ZOES stockholders
Those who are current investors in Zoe's Kitchen, Inc. (NYSE: ZOES) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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