Kendall Law Group Investigates California Pizza Kitchen, Inc. Acquisition for Shareholders
l. The national securities firm’s investigation seeks to determine whether California Pizza Kitchen and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders.
Kendall Law Group, led by former federal judge Joe Kendall, is investigating California Pizza Kitchen, Inc. (NASDAQ: CPKI) for shareholders in connection with the proposed acquisition by an affiliate of Golden Gate Capital. The national securities firm’s investigation seeks to determine whether California Pizza Kitchen and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a California Pizza Kitchen shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at skendall@kendalllawgroup.com.
On May 25, 2011, the companies announced the definitive merger agreement under which California Pizza Kitchen would be acquired by an affiliate of Golden Gate Capital, in a transaction valued at approximately $470 million. Under the terms of the agreement, California Pizza Kitchen stockholders will receive $18.50 in cash for each share of California Pizza Kitchen/CPKI common stock held. The offer price is an approximately 11% premium to California Pizza Kitchen's Tuesday closing price of $16.71. In addition, according to Thompson/First Call, analysts have set a price target as high as $24.00 per share for CPKI stock. The firm’s investigation seeks to determine whether California Pizza Kitchen and its Board undertook a fair process in negotiating the deal.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
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