NEW YORK, April 1, 2002 (PRIMEZONE) -- Bull & Lifshitz, LLP announced that a class action has been filed in the Court of Chancery of the State of Delaware pursuant to Rule 23 of the Rules of the Court of the Chancery, on behalf of all common stockholders of Morton's Restaurant Group, Inc. (NYSE:MRG) ("Morton's" or the "Company"), or their successors in interest, who are being and will be harmed by defendants' actions described below (the "Class").
The Complaint charges that the Individual Defendants have breached and/or aided abetted breaches of fiduciary duties owed to Morton's and its stockholders by entering into a definitive merger agreement, on March 26, 2002, providing for the acquisition of Morton's by an affiliate of Castle Harlan, Inc. Under the terms of the agreement, Morton's stockholders will receive $12.60 in cash for each share of common stock. Indeed, as recently as May 1, 2001, the Company received a proposal by BFMA Holding Corp., a large shareholder in the Company, to acquire all of Morton's common stock for $28.25 per share in cash in a fully financed offer. Unless enjoined by the Court, defendants will breach their fiduciary duties owed to plaintiff and the other members of the Class and may benefit themselves, all to the irreparable harm of the Class.
If you own Morton's common stock, and seek to join this class action, receive an information package, discuss this action, any other potential action or have any questions concerning this notice, your rights or interests with respect to this matter, please visit our website at http://www.nyclasslaw.com/infopackage.html or contact Peter D. Bull, Esq. or Joshua M. Lifshitz, Esq. by email at counsel@nyclasslaw.com. Bull & Lifshitz, LLP has extensive experience in prosecuting investor class actions. For more information regarding Bull & Lifshitz, LLP, please view our Website at http://www.nyclasslaw.com.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca