FIESTA RESTAURANT GROUP SHAREHOLDER ALERT: Kaskela Law LLC Announces Investigation into Fairness of $8.50 Per Share Buyout Agreement - FRGI

Aug 09, 2023

PR Newswire

PHILADELPHIA, Aug. 9, 2023

PHILADELPHIA, Aug. 9, 2023 /PRNewswire/ -- Kaskela Law LLC announces that it is investigating the fairness of the proposed buyout of Fiesta Restaurant Group, Inc. ("Fiesta") NASDAQ: FRGI) shareholders by Authentic Restaurant Brands ("ARB") at $8.50 per share.

The $8.50 per share buyout price appears to undervalue Fiesta's shares. Notably, shares of Fiesta's stock traded at over $9.00 per share less than two months prior to the announcement of the proposed buyout, and at least one analyst recently assigned a $13.00 per share price target on Fiesta's shares.

The investigation has uncovered significant potential conflicts of interest in the proposed buyout, and seeks to determine (i) whether $8.50 per share represents maximum achievable cash consideration for Fiesta's shareholders, and (ii) whether Fiesta's officers and/or directors breached their fiduciary duties or violated the securities laws by agreeing to sell the company to ARB at just $8.50 per share.

Current Fiesta shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email ([email protected] / [email protected]) or online at https://kaskelalaw.com/cases/fiesta-restaurant-group/ , for additional information about this investigation and their legal rights and options.

Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.

CONTACT:

KASKELA LAW LLC
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 – 1740
(484) 229 – 0750
www.kaskelalaw.com

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SOURCE Kaskela Law LLC

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