TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Bojangles', Inc. (NASDAQ: BOJA) Investor Lawsuit Filed In Effort To Halt The Takeover

  • Investors who purchased shares of Bojangles’, Inc. (NASDAQ: BOJA) may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Bojangles’, Inc.
Security
NASDAQ: BOJA

Case Name
Bojangles', Inc. Deal Case
Type of Lawsuit
Mergers and Acquisition
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
You must register or login to receive notifications.

Click here to subscribe to Bojangles’, Inc..
Summary

November 5, 2019 - The case was voluntarily dismissed.

May 3, 2019 - An amended complaint was filed.

December 12, 2018 - An investor, who currently holds shares of Bojangles’, Inc. (NASDAQ: BOJA), filed a lawsuit against the takeover of Bojangles’, Inc. The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: BOJA stockholders by agreeing to sell Bojangles’, Inc. cheaply via an unfair process.

On November 06, 2018, Bojangles’, Inc. (NASDAQ: BOJA) announced that it has entered into an agreement to be acquired by Durational Capital Management LP and The Jordan Company, L.P. Under the terms of the agreement, Durational Capital Management LP and The Jordan Company, L.P. will acquire the Company in an all cash transaction. Bojangles’ stockholders will receive $16.10 per share.

However, plaintiff claims that the proposed consideration NASDAQ: BOJA shareholders will receive is grossly inadequate and undervalues Bojangles’, Inc. Indeed, shares of Bojangles', Inc. (NASDAQ: BOJA) traded prior to the takeover announcement in the open market as recently as October 8, 2018 as high as $16.85 per share. Bojangles', Inc. reported that its annual Total Revenue rose from $531.88 million in 2016 to $547.43 million in 2017 and that its Net Income increased from $37.71 million in 2016 to $72 million in 2017. Shares of Bojangles', Inc. (NASDAQ: BOJA) reached as high as $22.15 per share in May 2017.

In addition, the plaintiff alleges that the process is also unfair NASDAQ: BOJA stockholders. Indeed, concurrently with the execution of the acquisition agreement, Bojangles' majority stockholder executed already a customary voting agreement whereby it agreed (among other things) to vote its shares in favor of the acquisition..