Del Frisco’s

Practice Area: 
Stock Symbol: 
DFRG
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating the Del Frisco’s Restaurant Group, Inc. (NASDAQ: DFRG) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Del Frisco’s to L Catterton.

Ademi & O’Reilly, LLP alleges Del Frisco’s financial outlook is improving and yet Del Frisco’s shareholders will receive only $8 per share.  L Catterton is acquiring Del Frisco’s at a substantial discount.  The merger agreement unreasonably limits competing bids for Del Frisco’s by prohibiting solicitation of further bids, and imposing a termination penalty if Del Frisco’s accepts a superior bid. Del Frisco’s insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of Del Frisco’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Del Frisco’s.