Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Peet's Coffee & Tea, Inc.

Jul 23, 2012, 10:29 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, July 23, 2012 /PRNewswire/ -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Board of Directors of Peet's Coffee & Tea, Inc.("Peet's Coffee" or the "Company") (NasdaqGS: Peet) related to the proposed acquisition of the Company by German holding company, Joh A. Beckiser. The transaction is valued at approximately $1 billion or $73.50 per share.

This investigation concerns whether the Board of Directors of Peet's Coffee breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction.  On Monday, Peet's Coffee announced it set to be acquired by Jon A. Beckiser for $73.50 a share.  The offer represents a 28.6% premium to Peet's Coffee Friday close of $57.16 a share.  The offer Price of $73.50 is below the 52 week high of $77.60.

If you are aware of any facts relating to this investigation, or purchased shares of Peet's Coffee, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. 

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique.  Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients.  In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com

SOURCE Bronstein, Gewirtz & Grossman, LLC