NEW YORK, May 10, 2016 /PRNewswire/ -- WeissLaw LLP is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Krispy Kreme
Doughnuts, Inc. ("KKD" or the "Company") in connection with the
proposed acquisition of the Company by private equity firm JAB
Holding Company ("JAB"). On May 9,
2016, the Company announced it had reached a definitive
agreement for JAB to acquire all outstanding shares of KKD in a
transaction valued at approximately $1.35
billion. Under the terms of the agreement, KKD
shareholders will receive $21.00 in
cash for each KKD share they own.
WeissLaw is investigating whether KKD's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $24.00 per share, or $3.00 above the offer price. Additionally,
the Company recently announced positive financial results in fiscal
year 2016. It reported a 7.8% increase in net income to
$32.4 million, and a 5.8% increase in
revenue to $518.7 million. KKD
also announced that it expanded its store count 14% to over 1,100
stores. Finally, in March the Company reported its "seventh
consecutive year of positive same store sales at Company
stores."
Given these facts, WeissLaw is investigating whether KKD's Board
acted in the best interests of KKD's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own KKD shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP