Stock Symbol:
CHUY
Case Status:
Investigations
Ademi LLP is investigating Chuy’s (Nasdaq: CHUY) for possible breaches of fiduciary duty and other violations of law in its transaction with Darden.
Chuy’s stockholders will receive will receive $37.50 per share, in an all-cash transaction with an enterprise value for Chuy’s of approximately $605 million. The transaction agreement unreasonably limits competing transactions for Chuy’s by imposing a significant penalty if Chuy’s accepts a competing bid. Chuy’s insiders will receive substantial benefits as part of change of control arrangements.
We are investigating the conduct of Chuy’s’ board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.