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Bojangles' (BOJA) Alert: Johnson Fistel Investigates Proposed Sale of Bojangles', Inc. to Durational Capital; Is $16.10 a Fair Price?
|11/06/2018 | 09:00am|
SAN DIEGO, Nov. 6, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Bojangles', Inc. (Bojangles', the "Company") (NASDAQ: BOJA) breached their fiduciary duties in connection with the proposed sale of the Company to Durational Capital Management LP.
On November 6 2018, Bojangles' announced that it had signed a definitive merger agreement with Durational Capital. Under the terms of the merger agreement, Durational Capital will pay $16.10 per share in cash.
The investigation concerns whether the Bojangles' 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 Bojangles' shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's initial public offering was in May 2015 and was priced at $19 per share.
If you are a shareholder of Bojangles' 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 (firstname.lastname@example.org) at 619-814-1. If emailing, please include a phone number.
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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 https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP