Robbins Umeda LLP Announces an Investigation of the Acquisition of Rubio's Restaurants, Inc. by Mill Road Capital, L.P.
May 10 2010 - 3:20PM
Business Wire
Robbins Umeda LLP has commenced an investigation into possible
breaches of fiduciary duty and other violations of state law by
members of the Board of Directors of Rubio's Restaurants, Inc.
("Rubio's") (NASDAQ: RUBO) in connection with their actions in
causing Rubio's to enter into a definitive merger agreement to be
acquired by Mill Road Capital, L.P. If the transaction is
completed, shareholders of Rubio's will receive $8.70 in cash for
each share of Rubio's common stock they hold. The companies expect
the transaction to close in the third quarter of 2010.
Robbins Umeda LLP's investigation concerns whether the Board of
Directors of Rubio's undertook a fair process to obtain fair
consideration for all shareholders of Rubio's. Notably, the
proposed acquisition's consideration of $8.70 represents a premium
of less than 14% to the closing price of Rubio's stock on the last
trading day before the announcement. In addition, the stock price
of Rubio's traded above $8.00 a share throughout April and closed
at $8.44 on April 26, 2010.
If you are a shareholder of Rubio's and would like more
information about your rights as a shareholder, please contact
attorney Lauren Levi at 800-350-6003 or by e-mail at
llevi@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with
significant experience representing investors in merger-related
shareholder class actions, shareholder derivative actions, and
securities fraud class actions. For more information about the
firm, please go to http://www.robbinsumeda.com.
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