SAN DIEGO, Aug. 17, 2018 /PRNewswire/ -- Shareholder rights
law firm Johnson Fistel, LLP has launched an investigation into
whether the board members of Zoe's Kitchen, Inc. (NYSE: ZOES)
breached their fiduciary duties in connection with the proposed
sale of the Company to Cava Group, Inc. ("Cava").
On August 17, 2018, Zoe's
announced that it had signed a definitive merger agreement with
Cava. Under the terms of the agreement, Zoe's shareholders will
receive $12.75 in cash for each share
of common stock they hold.
The investigation concerns whether the Zoe's board failed to
satisfy its duties to the Company shareholders, including whether
the board adequately pursued alternatives to the acquisition and
whether the board obtained the best price possible for Zoe's shares
of common stock. Nationally recognized Johnson Fistel is investigating whether the
proposed deal represents adequate consideration, especially given
one Wall Street analyst has a $14.00 price target on the
stock. The 52-week high for Zoe's stock was $17.65.
If you are a shareholder of Zoe's and believe the proposed
buyout price is too low or you're interested in learning more about
the investigation or your legal rights and remedies, please contact
lead analyst Jim Baker
(jimb@johnsonfistel.com) at 619-814-4471. If emailing,
please include a phone number.
Additionally, you can [click here to join this
action].There is no cost or obligation to
you.
About Johnson Fistel,
LLP:
Johnson Fistel, LLP is a nationally
recognized shareholder rights law firm with offices in California, New
York, and Georgia. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits. For more
information about the firm and its attorneys, please visit
http://www.johnsonfistel.com. Attorney advertising. Past results do
not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP