Investors of Fiesta Restaurant Group, Inc. Encouraged to Contact Kehoe Law Firm, P.C. – FRGI
Kehoe Law Firm, P.C. is investigating whether the sale of Fiesta Restaurant Group, Inc. (“Fiesta Restaurant” or “Fiesta”) (NASDAQ: FRGI) for $8.50 per share in cash is fair to Fiesta stockholders.
The investigation concerns whether the Board of Fiesta breached its fiduciary duties in connection with the merger.
INVESTORS OF FIESTA RESTAURANT STOCK ARE ENCOURAGED TO CLICK HERE OR EMAIL [email protected] TO CONTACT KEHOE LAW FIRM, P.C.
Fiesta Restaurant formed a Special Committee because Board member Nicholas Daraviras was employed by an affiliate of one of the potential financial advisor candidates, Jefferies LLC (“Jefferies”). The Special Committee then retained Jefferies as its financial advisor, even though Jefferies held a large illiquid block position in Fiesta of 5.26 million shares, or approximately 19.89% of the common equity outstanding in Fiesta and entered into a voting agreement in connection with the merger.
Due to its large illiquid position in Fiesta, Jefferies may have had an interest in a quick merger unlike other Fiesta stockholders.