WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of Brazil Fast Food Corp. (OTC PINK: BOBS)?
- Did you purchase any of your shares prior to September 27, 2013?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Brazil Fast Food Corp. (“Brazil” or the “Company”) (OTC PINK: BOBS) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be taken private by an investor group which includes the Company’s Chief Executive Officer, Ricardo Figueiredo Bomeny (“Bomeny”), in a transaction valued at approximately $32 million.
Click here to learn more: http://www.rigrodskylong.com/investigations/brazil-fast-food-corp-bobs.
Under the terms of the agreement, public shareholders of Brazil will receive $15.50 per share in cash for each share of Brazil they own.
The investigation concerns whether Brazil’s board of directors failed to adequately shop the Company and obtain the best possible value for Brazil’s shareholders before entering into an agreement with Bomeny. For example, according to Yahoo! Finance, Brazil’s closing stock price the day prior to the announcement was $16.74, or 8% above the proposed offering price.
If you own the common stock of Brazil and purchased your shares before September 27, 2013, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth Rigrodsky or Gina Serra at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530, by telephone at (888) 969-4242; by e-mail to info@rl-legal.com, or at: http://www.rigrodskylong.com/investigations/brazil-fast-food-corp-bobs.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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