O’Charley’s Lawsuit Investigation | Breaches of Fiduciary Duties | Self Dealing | Violations in Acquisition | Fidelity National Financial Acquisition
Gilman Law LLP, a national securities law firm, announces a class action lawsuit investigation on behalf of O’Charley’s common stock shareholders. The O’Charley’s investigation concerns possible breaches of fiduciary duty and other violations of the law by directors and/or officers of O’Charley’s, Inc., related to the sale of the company to Fidelity National Financial, Inc.
If you own shares of stock in O’Charley’s, Inc. and would like more information concerning your rights and potential remedies, please contact Gilman Law LLP at (239) 221-8401 or submit the free consultation form to speak with a securities attorney at Gilman Law LLP. O’Charley’s common stock shareholders may be able to file a class action lawsuit to preserve their right to vote on the details of the transaction.
O’Charley’s Acquisution Details
The investigation concerns the terms of the O’Charley’s acquisition with Fidelity. Specifically, the terms of the deal indicate that shareholders will receive $9.85 in cash for each share of O’Charley’s common stock. Fidelity National Financial currently owns over 2 million, or approximately 9.5%, of all outstanding shares of O’Charley’s common stock. Further, Fidelity announced that it plans to commence a tender offer for the remaining shares on or about February 24, 2012.
Gilman Law LLP is focused on whether the directors and officers of O’Charley’s are undertaking a fair process to obtain maximum value and adequately compensate the common stock shareholders. Analysts polled by Bloomberg had only expected O’Charley’s revenue of $181 million for quarterly revenue, when the company actually reported revenue of $182.16 million.
The terms of the deal also provide that O’Charley’s officers and directors will remain employed by the surviving corporation. Gilman Law LLP is investigating whether the directors and officers engaged in any type of self-dealing or other employment guarantees when making the decisions to enter into the deal.
Gilman Law Firm History
The securities attorneys at Gilman Law have over 35 years of experience litigating securities cases as well as other types of class action cases, and have been involved in all major aspects of securities litigation. Our securities lawyers focus their practice on cases involving stock manipulation, securities fraud, investments fraud, shareholder rights violations, and securities arbitration. For a free evaluation of your case, please contact our national securities lawyers TOLL FREE at (239) 221-8401.