News

Attorneys open 5 investigations into Arby's-BWW deal

November 28, 2017

With the ink barely dry on the $2.9 billion Arby’s Restaurant Group acquisitionof Buffalo Wild Wings, at least four law firms have already launched investigations into the deal, according to a series of press releases issued by those firms today, including:

• Ademi & O'Reilly, LLP
• Johnson Fistel, LLP
• Rigrodsky & Long, PA
• Rowley Law PLLC
• The Briscoe Law Firm 

All of the investigations focus on alleged breaches of fiduciary duties on the part of the BWW board, according to news release from each firm. For instance, former U.S. SEC attorney Willie Briscoe at The Briscoe Law Firm said he is investigating potential claims against the BWW board regarding the sale's stipulation that grants $157 per share to each of its investors. Briscoe said in a news release that amount is "virtually no premium over the 52-week high, and lower than at least one analyst’s estimated value of $170 per share."

Meanwhile, Rigrodsky & Long, P.A. said it is also investigating "potential legal claims" against the board for possible breaches of fiduciary duties in relation to the deal. Both firms are seeking interested shareholders in their investigations focused on whether the BWW board acted in the best interest of investors, as well as whether they adequately reviewed the terms before acting on them. 

Arby's directed all questions regarding the investigations to Buffalo Wild Wings, which has not responded to our request for comment.