Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of Rubio's Restaurants, Inc.
11 May 2010 - 11:42AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Rubio's Restaurants, Inc. (“Rubio’s” or the “Company”)
(Nasdaq:RUBO) related to the Company’s agreement to be acquired by
Mill Road Capital, L.P. (“Mill Road Capital”). The proposed cash
merger transaction is valued at approximately $91 million.
Under the terms of the definitive merger agreement entered into
by the parties, an entity controlled by Mill Road Capital will
acquire all the outstanding shares of Rubio’s common stock for
$8.70 per share. Mill Road Capital currently owns approximately
4.9% of the Company’s outstanding shares. The transaction is
expected to be completed in the third quarter of 2010. The
investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the transaction by
the Rubio’s board of directors.
If you own shares of Rubio’s Restaurants, Inc., if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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