DALLAS - (Business Wire) Kendall Law Group, founded by a former federal judge, began an investigation on behalf of Diedrich Coffee Inc. (NASDAQ: DDRX) shareholders. The investigation concerns possible breaches of fiduciary duty by the Board of Directors in connection with the proposed acquisition by Peet’s Coffee & Tea, Inc. This is a cash and stock transaction valued at approximately $213 million. According to the agreement, Diedrich shareholders will receive $17.33 in cash and 0.315 share of Peet’s stock, which is $8.67 based on the closing price of Peet’s on the last trading day before the announcement. This provides shareholders approximately $26.00 for their Diedrich stock, while it traded at $31.34 as recently as October 26, 2009.
Former federal judge Joe Kendall said, “the investigation concerns whether the consideration to be paid to shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of Diedrich and whether the directors and special committee members may have breached their fiduciary duties by not acting in the shareholders’ best interests in connection with the sale process.”
If you are a current holder of DDRX stock and would like additional information concerning this proposed transaction, including your shareholder rights, contact Hamilton Lindley at 877-744-3728 or by email at hlindley@kendalllawgroup.com.
Kendall Law Group has substantial experience representing investors in mergers and acquisitions nationwide. Lawyers at the firm include a former state and federal judge, a former United States Attorney, and experienced securities lawyers.
Kendall Law Group, LLP
Hamilton Lindley, 214-744-3000
Toll Free: 877-744-3728
Facsimile: 214-744-3015
hlindley@kendalllawgroup.com
www.kendalllawgroup.com
