The firm is investigating the proposed acquisition of Morton 's Restaurant Group, Inc. (NYSE: MRT). It was announced that Tilman J. Fertitta who owns approx. 5% of Morton 's shares, will acquire the remaining shares of Morton that he does not already own for $6.90 per share.
The investigation concerns, among other things, whether the consideration to be paid to Morton shareholders is unfair, inadequate, and substantially below the fair or inherent value of Morton. Indeed, analysts estimate the true inherent value of the stock is worth at least $9 per share. The investigation further concerns whether the board of directors of Morton may have breached their fiduciary duties by not acting in Morton shareholders' best interests in connection with the sale process of Morton.
If you are a current shareholder and would like to discuss your options of exercising your rights as a shareholder, which include ensuring that the company is getting the highest possible price for the company, and that the board of directors will act in the best interest of the shareholders, please contact us.
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