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Stock Market & Financial Investment News

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December 17, 2012
06:21 EDTSBUX, TEATeavana reaches settlement with shareholders over Starbucks deal
Teavana Holdings (TEA), Starbucks (SBUX) and Taj Acquisition Corp., a wholly-owned subsidiary of Starbucks, entered into an Agreement and Plan of Merger. Andrew T. Mack, SKM Equity Fund III, L.P., SKM Investment Fund and Jurgen W. Link, the holders of 28,749,196 shares of Teavana’s common stock, which constitute approximately 74% of the voting power of the outstanding shares of Teavana’s common stock, executed a written consent approving and adopting the Merger Agreement. As a result, no further approval of the stockholders of Teavana is required to adopt the Merger Agreement. Starting on November 19, three purported Teavana stockholders filed putative class actions. A fourth class action was filed in the State of Georgia on December 7 and was voluntarily dismissed without prejudice on December 13. On December 14, the parties to the Stockholder Actions entered into an MOU reflecting an agreement in principle to resolve the Stockholder Actions. Subject to completion of certain confirmatory discovery by counsel to the plaintiffs, the MOU stipulates that the parties will enter into a stipulation of settlement. As part of the settlement, the defendants deny all allegations of wrongdoing and deny that the disclosures in the Definitive Information Statement were inadequate but have agreed to provide supplemental disclosures.
News For TEA;SBUX From The Last 14 Days
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December 17, 2014
09:00 EDTSBUXEU expanding 'sweetheart' tax probe, WSJ reports
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December 8, 2014
07:52 EDTSBUXStarbucks price target raised to $97 from $88 at Jefferies
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06:47 EDTSBUXStarbucks coverage resumed with a Conviction Buy at Goldman
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