Levi & Korsinsky is investigating the Board of Directors of Panera Bread Company (NASDAQ: PNRA) in connection with the sale of the Company to JAB Holding Company. Under the terms of the transaction, Panera shareholders will receive $315 per share. Insiders representing approximately 15.5% of the Company’s voting power have already agreed to vote in favor of the transaction.
The investigation concerns whether the Board of Panera breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether JAB is underpaying for Panera shares, thus unlawfully harming Panera shareholders.
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