BALA CYNWYD, Pa. (Business Wire) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Diedrich Coffee, Inc. (“Diedrich Coffee” or the “Company”) (Nasdaq:DDRX) relating to the proposed acquisition by Peet's Coffee & Tea, Inc. (“Peet's”). Peet's has agreed to acquire Diedrich Coffee in a deal valued at approximately $213 million.
Under the proposed agreement, Diedrich Coffee shareholders will receive $17.33 in cash and a fraction of a Peet's share valued at about $8.67 for every share of Diedrich Coffee common stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the Diedrich Coffee board's approval of the proposed merger. The transaction appears to be unfair, in part, given that Diedrich Coffee stock was trading at $29.88 a share as recently as October 22, 2009 and was trading at $25.39 a share on August 4, 2009.
If you own shares of Diedrich Coffee and wish to discuss the legal ramifications of the proposed acquisition, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
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