Law Firm Brower Piven Announces Investigation of ARK Restaurants Corp.

  Law Firm Brower Piven Announces Investigation of ARK Restaurants Corp.

Business Wire

STEVENSON, Md. -- February 12, 2013

The securities litigation firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary duty to
current shareholders of ARK Restaurants Corp. (“ARK” or the “Company”)
(Nasdaq: “ARKR”) and other violations of state law by the board of directors
of ARK relating to the proposed acquisition of the Company by Landry’s, Inc.
(“Landry’s”). The firm’s investigation seeks to determine, among other things,
whether the board of directors of ARK breached their fiduciary duties by
failing to maximize shareholder value.

Under the terms of the proposed transaction, ARK shareholders will receive
$22.00 for each share of ARK common stock they own, representing a value of
$71 million. According to Bloomberg, the EBITDA, EBIT, revenue, and free cash
flow multiples for the proposed transaction are below those of comparable
transactions.

If you currently own common stock of ARK and would like to learn more about
the investigation being conducted by Brower Piven, you may email or call
Brower Piven, who will, without obligation or cost to you, attempt to answer
your questions. You may contact Brower Piven by email at
hoffman@browerpiven.com, by calling (410) 415-6616, or at Brower Piven, A
Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153.
Attorneys at Brower Piven have combined experience litigating securities and
other class action cases of over 60 years.

Contact:

Brower Piven, A Professional Corporation
Stevenson, Maryland
Charles J. Piven, 410-415-6616
hoffman@browerpiven.com