Block & Leviton LLP Investigates Peet's Coffee & Tea, Inc. for Possible Breaches of Fiduciary Duty in Connection with Its Pro...

BOSTON, July 23, 2012 /PRNewswire/ -- Block & Leviton LLP, a Boston-based law firm representing investors nationwide, is investigating possible breaches of fiduciary duties by the Board of Directors of Peet's Coffee & Tea, Inc. ("Peet's Coffee" or the "Company") (NASDAQ:  PEET) concerning its announced going private transaction with Joh. A. Benckiser ("JAB"). 

Under the terms of the merger, JAB will acquire Peet's Coffee for $73.50 per share in cash, which is a premium of approximately 28% over the Company's share price on July 20, 2012, the last trading day before the merger was announced.  The total transaction is valued at approximately $1 billion. 

Block & Leviton's investigation seeks to determine, among other things, whether Peet's Coffee's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed merger with JAB.  For example, the Company's share price traded higher than the current offering price as recently as May 1, 2012 (when the stock closed at $75.23 per share).  In fact, the Company's share price hit a high of $77.60 on March 28, 2012, well above the offering price to be paid by JAB.  Likewise, in March 2012, analysts at Jefferies boosted its price target for Peet's Coffee to $88.00 per share and reiterated its Buy rating.  Finally, all of the Company's current management and employees will continue to operate the Company and participate in its future growth.         

If you have any information relevant to this investigation, or have questions about your legal rights, please contact Jason M. Leviton, Esq. of Block & Leviton LLP at [phone] or email him at [e-mail].

Block & Leviton is a Boston-based law firm representing investors for violations of securities laws.  The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.

Contact:	BLOCK & LEVITON LLP
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SOURCE Block & Leviton LLP

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