NEW YORK, May 27, 2011 (GLOBE NEWSWIRE) -- Levi & Korsinsky is investigating the Board of Directors of California Pizza Kitchen, Inc. ("CPK" or the "Company") for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to an affiliate of Golden Gate Capital. Under the terms of the transaction, CPK shareholders will receive $18.50 in cash per share of CPK stock they own. The transaction has a total value of approximately $470 million.
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The investigation concerns whether the CPK Board of Directors breached their fiduciary duties to CPK stockholders by failing to adequately shop the Company before entering into this transaction and whether Golden Gate Capital is underpaying for CPK shares, thus unlawfully harming CPK stockholders. In particular, at least one analyst set a price target for CPK stock at $24.00 per share.
If you own common stock in CPK and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit .
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 15th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
