An investigation on behalf of investors, who currently hold shares of Fogo De Chao Inc (NASDAQ:FOGO), was announced concerning whether the takeover of Fogo De Chao Inc by Rhne Capital for $15.75 per share is unfair to NASDAQ:FOGO stockholders.

The investigation by a law firm concerns whether certain officers and directors of Fogo De Chao Inc breached their fiduciary duties owed to NASDAQ:FOGO investors in connection with the proposed acquisition.

Dallas, TX based Fogo de Chao, Inc. is a United States-based holding company, that, through its subsidiaries, operates upscale Brazilian churrascaria steakhouses under the brand of Fogo de Chao. Fogo De Chao Inc went public in 2015 and shares of Fogo De Chao Inc (NASDAQ:FOGO) traded as high as $25.75 per share. On February 20, 2018, Fogo De Chao Inc (NASDAQ:FOGO)announced an agreement to be acquired by investment entities affiliated with Rhne Capital (together with its affiliates, Rhne). Under the terms of the agreement, Rhne will acquire the Company in an all cash transaction valued at $560 million. The Companys stockholders will receive $15.75 per share, representing a 25.5 percent premium to the closing share price of the Companys shares on February 16, 2018.

However, the investigation concerns whether the offer is unfair to NASDAQ:FOGO stockholders. More specifically, the investigation concerns whether the Fogo De Chao Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Fogo De Chao Inc reported that its Total Revenue rose from $271.63 million for the 53 weeks period that ended on January 3, 2016 to $288.30 million for the 52 weeks period that ended on January 1, 2017.