BUYOUT OF TEAVANA - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 14, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it is investigating the acquisition of Teavana Holdings, Inc. It was announced that Starbucks is acquiring all the outstanding shares of Teavana for $15.50 per share.
The investigation concerns whether the board of directors of Teavana breached their fiduciary duties by not engaging in a full auction of the company so that shareholders can obtain the highest price possible for their shares, while allowing the management of Teavana to obtain personal monetary benefits for themselves. Indeed, analysts have projected that the true buyout value of Teavana is at least $24 per share.
If you are a shareholder of Teavana and would like additional information concerning this matter, please contact us toll free at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a leading law firm that has recovered millions for shareholders around the globe.
I agree that this price is low. The CEO got himself a sweetheart deal and is preventing shareholders from having any vote. He also put in a $20 million penalty fee provision so that no other bidder will come forward and make a higher offer. Why prevent shareholders from getting more money when your selling the company? It's only because he cut himself a deal and doesn't want it broken up.