The Habit Restaurants, Inc.

Practice Area: 
Stock Symbol: 
HABT
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating The Habit Restaurants Inc. (Nasdaq: HABT) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of The Habit Restaurants to Yum! Brands.

Ademi & O’Reilly, LLP alleges The Habit Restaurants’ financial outlook is improving and yet shareholders will receive only $14 in cash per share of The Habit Restaurants. The merger agreement unreasonably limits competing bids for The Habit Restaurants by prohibiting solicitation of further bids, and imposing a termination penalty if The Habit Restaurants accepts a superior bid. The Habit Restaurants insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of The Habit Restaurants’ board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for The Habit Restaurants.


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