Fiesta Restaurant Group, Inc.

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Ademi LLP is investigating Fiesta (NASDAQ: FRGI) for possible breaches of fiduciary duty and other violations of law in its transaction with Authentic Restaurant Brands.

In the transaction, Fiesta stockholders are expected to receive only 8.50 per share. The transaction agreement unreasonably limits competing transactions for Fiesta by imposing a significant penalty if Fiesta accepts a competing bid. Fiesta insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Fiesta’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.