July 23, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Peet’s Coffee & Tea, Inc. (“Peet” or the “Company”) (NASDAQ: PEET) breached its fiduciary duty to its shareholders in agreeing to sell Peet to Joh. A. Benckiser.
Under the terms of the agreement, Peet shareholders will receive $73.50 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Peet shareholders and the process by which the Peet Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.