WeissLaw LLP: Proposed Acquisition of Fogo De Chão, Inc. May Not Be In The Best Interest of FOGO Shareholders

NEW YORK, Feb. 28, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Fogo De Chão, Inc. ("FOGO" or the "Company") (NASDAQ: FOGO) in connection with the proposed acquisition of the Company by affiliates of Rhône Capital LLC.  Under the terms of the acquisition agreement, the Company's shareholders will receive $15.75 for each FOGO share they own.

WeissLaw is investigating whether FOGO's Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the per-share offer is $1.30 less than the Company's 52-week high of $17.05.  Additionally, the Company recently announced its preliminary results for the fourth quarter of 2017.  It reported total revenue of $88.8 million, representing growth of $17.5 million, or 25%, sequentially. 

Given these facts, WeissLaw is investigating whether FOGO's Board acted in the best interests of FOGO's public shareholders to maximize shareholder value prior to entering into the agreement.  If you own FOGO shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at [phone] or by email at [e-mail]. 

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [e-mail] or fill out the form on our website, http://www.weisslawllp.com/fogo-de-chao-inc/

 

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SOURCE WeissLaw LLP

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