Teavana Holdings, Inc. (TEA) Stockholder Lawsuit to Halt Takeover by
Starbucks Coffee Company Announced by Shareholders Foundation
SAN DIEGO, CA -- (Marketwire) -- 11/26/12 -- The Shareholders
Foundation, Inc. announces that an investor in Teavana Holdings, Inc.
(TEA) shares filed a lawsuit to block the proposed takeover of
Teavana Holdings, Inc. by Starbucks Coffee at $15.50 per TEA share.
Investors who purchased shares of Teavana Holdings, Inc. (TEA) prior
to November 14, 2012 and currently hold any of those Teavana
Holdings, Inc. shares, have certain options and should contact the
Shareholders Foundation, Inc. at firstname.lastname@example.org or
call +1 (858) 779-1554.
On Nov. 14, 2012, Teavana Holdings, Inc. announced that Starbucks
Coffee Company (SBUX) has agreed to acquire Teavana Holdings, Inc. in
an all-cash acquisition. Under the terms of the proposed transaction
Teavana Holdings, Inc. (TEA) stockholders of record will receive
$15.50 per share in cash in the merger which will result in Teavana
Holdings, Inc. becoming a wholly-owned subsidiary of Starbucks Coffee
However, the plaintiff claims that the $15.50 offer is unfair to TEA
stockholders and undervalues the company. Indeed, at least one
analyst has set the high target price for TEA shares at $24 per share
and that shares of Teavana Holdings, Inc. (TEA) traded as recently as
May 2, 2012 as high as $21.47 per share and on February 27, 2012 as
high as $24.70 per share.
Furthermore, so the plaintiff, the process is also unfair to TEA
investors. Indeed stockholders of Teavana Holdings, Inc. (TEA)
holding approximately 70% of the outstanding shares of common stock
have already approved the merger agreement by written consent.
Those who currently are investors in Teavana Holdings, Inc. (TEA)
shares and purchased their shares before the announcement have
certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal
monitoring and settlement claim filing service, which does research
related to shareholder issues and informs investors of securities
class actions, settlements, judgments, and other legal related news
to the stock/financial market. The Shareholders Foundation, Inc. is
not a law firm. The information is provided as a public service. It
is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
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