Former U.S. Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Teavana Holdings, Inc. to Starbucks Corp. for shareholders. Under the proposed deal valued at approximately $620 million, Teavana shareholders will only receive $15.50 in cash for each share of Teavana stock owned, well below at least one analyst’s estimated value of $29.00 per share and the 52-week high of $26.03, according to the law firms.
Shareholder rights attorney Willie Briscoe said, in a prepared statement, “Based upon analysts’ estimates, the recent performance of the company, and other factors, we believe that this transaction may undervalue Teavana stock. Our lawsuit will seek to obtain the highest share price for all shareholders.”
