Peet’s Coffee & Tea, Inc. (PEET) Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Peet’s Coffee & Tea, Inc. (“Peet’s Coffee” or the “Company”) (NASDAQ: PEET) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Joh. A. Benckiser in a going-private deal valued at approximately $977.6 million. Under the terms of the proposed transaction, Peet’s Coffee stockholders will receive $73.50 in cash for each share of Peet’s Coffee they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $95.00 for Peet’s Coffee.
Whether the Board of Directors of Peet’s Coffee 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 Peet’s Coffee shares and by how much this proposed transaction undervalues the Company to the detriment of Peet’s Coffee shareholders are the key focus of this investigation.
If you own common stock in Peet’s Coffee and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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