WILMINGTON, Del.--(BUSINESS WIRE)--Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Panera Bread Company (NASDAQGS: PNRA) (“Panera Bread” or the “Company”) relating to the sale of the Company to affiliates of JAB Holding Company, a European consumer goods conglomerate (“JAB”). On April 5, 2017, the two parties announced the signing of a definitive merger agreement pursuant to which JAB will acquire Panera Bread in a deal worth $7.5 billion. As a result of the merger, Panera Bread shareholders are only anticipated to receive $315 per share in cash in exchange for each share of Panera Bread.
Andrews & Springer’s investigation so far has revealed that the consideration Panera Bread shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, Panera Bread’s stock has already traded above the $315 per share consideration as recently as April 13, 2017 when the Company’s share price closed at $315.44 per share. Our investigation is also looking into whether Panera Bread’s top executives were conflicted and acted in their own self-interest when approving the merger thus making the process and consideration unfair. According to the Company’s April 5th announcement, Panera Bread’s senior management will continue their employment post-merger: “Panera will be privately held and continue to be operated independently by the Company’s management team.”
If you own shares of Panera Bread and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/panera-bread-class-action-investigation/ or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.