PEET Peets Coffee & Tea, Inc. (MM)

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Peet’s Coffee & Tea, Inc. (“Peet’s” or “PEET”) (Nasdaq: PEET) to Joh. A. Benckiser for shareholders. Under the proposed acquisition agreement, Peet’s shareholders will receive only $73.50 in cash for each share of Peet stock owned, well below at least one analyst’s estimated value of $95.00 per share.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, or via e-mail at patrick@powerstaylor.com. There is no cost or fee to you.

The definitive merger agreement is expected to close in approximately three months and the transaction is valued at approximately $1 billion.

The investigation centers on whether Peet’s shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Peet’s stock, and whether Peet’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. According to at least one analyst with Yahoo! Finance, the true inherent value of Peet’s may be as high as $95.00. “Due to the size of the deal and other factors, we want to ensure that shareholders are receiving a fair price for their Peet’s shares. As such, we are prepared to initiate litigation to preserve the shareholders’ rights,” said shareholder rights attorney Willie Briscoe.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Peets Coffee & Tea, Inc. (MM) (NASDAQ:PEET)
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