Shareholder Alert: Ark Restaurant Corp. Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties
NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Ark Restaurant Corp. ("Ark" or the "Company") (NasdaqGM: ARKR) for potential breaches of fiduciary duties in connection with their conduct related to the acquisition proposal the Company received from Landry's, Inc. on February 6, 2013. Under the terms of the proposed acquisition, Ark's shareholders will be entitled to receive $22 in cash for each share of Ark's common stock they own.
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Whether Ark's Board of Directors is acting in accordance with their fiduciary duties to Ark's stockholders to conduct an adequate and fair sales process to sell the Company, whether the proposed transaction adequately values Ark's shares, and whether Ark's Board of Directors is effectively negotiating a price increase for the proposed acquisition are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Ark and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ARKR or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: 877-247-4292
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The article Shareholder Alert: Ark Restaurant Corp. Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties originally appeared on Fool.com.