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Mortons Restaurants Group Inc. (MRT)



Faruqi & Faruqi, LLP Announces Investigation of Morton’s Restaurants Group Inc. (MRT)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Morton’s Restaurants Group Inc. (“Morton’s” or the “Company”) (NYSE: MRT) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Tilman J. Fertitta’s wholly-owned company, Fertitta's Morton's Restaurants, Inc., in an all-cash deal valued at about $116 million. Under the terms of the proposed transaction, Morton’s stockholders will receive $6.90 in cash for each share of Morton’s common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $9.00 for Morton’s.

Whether Morton’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Morton’s shares and by how much this proposed transaction undervalues the Company to the detriment of Morton’s shareholders are the key focus of this investigation.

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Faruqi & Faruqi, LLP
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