Glancy Binkow & Goldberg LLP announces that it is investigating
potential claims against the Board of Directors of Peet’s Coffee & Tea,
Inc. (“Peet’s” or the “Company”) (NASDAQ: PEET) related to the proposed
acquisition of the Company by Joh. A. Benckiser. The transaction is
valued at approximately $1 billion or $73.50 per share.
This investigation concerns whether the Board of Directors of Peet’s
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. The Company has seen substantial
recent growth. Its share price has skyrocketed from $52.16 on September
21, 2011 to $75.23 on May 1, 2012. Further, at least one analyst has set
a target price for the Company’s stock at $95.00. Moreover, according to
an article in the Wall Street Journal, the Company’s CEO recently stated
the Company wasn’t shopping itself to potential suitors, putting into
question the process that led up to the proposed transaction.
If you are a shareholder of Peet’s, if you have information or would
like to learn more about our investigation, or if you wish to discuss
these matters or have any questions concerning this announcement or your
rights or interests with respect to these matters, please contact Louis
Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East,
Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or
Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org.
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