Faruqi & Faruqi, LLP Announces Investigation of P.F. Chang’s China Bistro, Inc. (PFCB)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of P.F. Chang’s China Bistro, Inc. (“P.F. Chang’s” or the “Company”) (NASDAQ: PFCB) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Centerbridge Partners, L.P. in an all-cash transaction valued at approximately $1.1 billion. Under the terms of the proposed transaction, P.F. Chang’s shareholders will receive $51.50 in cash per each share of P.F. Chang’s common stock they own. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.
Whether P.F. Chang’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 P.F. Chang’s shares and by how much this proposed transaction undervalues the Company to the detriment of P.F. Chang’s shareholders are the key focus of this investigation.
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Faruqi & Faruqi, LLP
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