Law firm to investigate O'Charley's sale
Feb. 13, 2012
by Meat&Poultry Staff
NEW YORK – A law firm is investigating the O'Charley's Inc. board of directors for possible breaches of fiduciary duty and other state law violations in connection with the sale of the company to Fidelity National Financial.
Levi & Korsinsky, LLP is investigating whether the O'Charley's board of directors breached their fiduciary duties to the company's stockholders by failing to adequately shop the company before entering the sale and whether Fidelity National underpaid for the shares. O'Charley's shareholders will receive $9.85 in cash for each share of stock they own. Fidelity National currently owns roughly 9.5 percent of outstanding shares of O'Charley's common stock.