An investigation on behalf of investors, who currently hold shares of Sonic Corp. (NASDAQ: SONC), was announced concerning whether the takeover of Sonic Corp. by Inspire Brands, Inc is unfair toNASDAQ: SONC stockholders.

The investigation by a law firm concerns whether certain officers and directors of Sonic Corp. breached their fiduciary duties owed to NASDAQ: SONC investors in connection with the proposed acquisition.

Oklahoma City, OK based Sonic Corp. operates and franchises a chain of quick-service drive-in restaurants in the United States. As of August 31, 2017, the company operated 3,593 Sonic Drive-Ins in 45 states, of which 228 were owned and operated by the company and 3,365 were owned and operated by franchisees.

On September 25, 2018, Sonic Corp. (NASDAQ: SONC) and Inspire Brands, Inc.(Inspire) announced that they have entered into a merger agreement under which Inspire will acquire Sonic for $43.50 per share in cash in a transaction valued at approximately $2.3 billion including the assumption of Sonics net debt.

However, the investigation concerns whether the offer is unfair to Sonic Corp. (NASDAQ: SONC stockholders. More specifically, the investigation concerns whether the Sonic Corp. (NASDAQ: SONC 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.