Zoe’s Kitchen, Inc. (NYSE: ZOES) Investor Lawsuit Filed Against Acquisition

Investors who purchased shares of Zoe’s Kitchen, Inc. (NYSE: ZOES) and currently hold any of those NYSE: ZOES shares have certain options and should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Zoe's Kitchen
Case Name: 
Zoe's Kitchen Deal Case
Case Status: 
Lawsuit Filed
Affected Securities
Lawsuit Overview
Type of Lawsuit: 
Mergers and Acquisition

An investor, who currently holds shares of Zoe’s Kitchen, Inc. (NYSE: ZOES), filed a lawsuit against the takeover of Zoe’s Kitchen, Inc.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE: ZOES stockholders by agreeing to sell Zoe’s Kitchen, Inc. cheaply via an unfair process.

On August 17, 2018, Zoe's Kitchen, Inc. (NYSE: ZOES) announced that it has entered into an agreement to be acquired in a transaction by privately held Cava Group, Inc..
Under the terms of the agreement, Zoe's Kitchen, Inc. (NYSE: ZOES) shareholders will receive $12.75 in cash for each share of common stock they hold.

However, plaintiff claims that the proposed consideration NYSE: ZOES shareholders will receive is grossly inadequate and undervalues Zoe's Kitchen, Inc. Indeed, at least one analyst has set the high target price for NYSE: ZOES shares at $13.00 per share. Zoe's Kitchen, Inc. reported that its annual Total Revenue rose from $275.96 million in 2016 to $314.1 million in 2017. Shares of Zoe's Kitchen, Inc. (NYSE: ZOES) reached as high as $45.40 per share in July 2015. In addition, the plaintiff alleges that the process is also unfair NYSE: ZOES stockholders