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Back Yard Burgers closing delayed
September 3, 2007
MEMPHIS, Tenn. — Back Yard Burgers Inc. has delayed a proposed merger transaction because of a complaint filed against it in federal district court.
The company previously had reported that it expected its proposed merger transaction with BBAC LLC to close during August 2007. Back Yard Burgers since has determined it needed more time to evaluate the issues raised in the lawsuit, which alleges the company and other unnamed defendants failed to properly truncate and mask certain personal account information on credit card receipts printed by the company's point-of-sale system.
The company has not determined the ultimate impact of the lawsuit on the closing of the pending merger transaction with BBAC.
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