SAN DIEGO, April 11, 2019 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Papa Murphy's Holdings, Inc. (NASDAQ: FRSH) ("Papa Murphy's") breached their fiduciary duties in connection with the proposed sale of the Company to MTY Food Group Inc. ("MTY")
On April 11, 2019, Papa Murphy's announced that it had signed a definitive merger agreement with MTY. Under the terms of the merger agreement, MTY will acquire all of the outstanding shares of Papa Murphy's in an all-cash transaction. Papa Murphy's shareholders will receive $6.45 per share in cash.
The investigation concerns whether the Papa Murphy's board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Papa Murphy's shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given analysts' projections for future earnings growth, also one Wall Street analyst has a $7.00 price target on the stock.
If you are a shareholder of Papa Murphy's and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471. If emailing, please include a phone number.
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About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
SOURCE Johnson Fistel, LLP