Robbins Umeda LLP Announces an Investigation of J. Alexander's Corporation

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of directors of J. Alexander's Corporation (NASDAQ: JAX) in connection with their efforts to sell the company to Fidelity National Financial, Inc. (NYSE: FNF).  Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly.  You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.

On June 25, 2012, J. Alexander's announced that it had entered into a definitive merger agreement to be acquired by Fidelity.  Pursuant to the agreement, J. Alexander's shareholders may elect to receive $12.00 in cash for each share of J. Alexander's common stock they hold or receive a combination of $3.00 in cash and one share of Class A common stock of American Blue Ribbon Holdings, Inc., a newly formed, majority owned subsidiary of Fidelity.  The transaction is expected to close during the fourth quarter of 2012.    

Robbins Umeda LLP's investigation focuses on whether the Board of Directors at J. Alexander's is undertaking a fair process to obtain maximum value and adequately compensate shareholders in light of the company's recent positive financial results.  On May 2, 2012, J. Alexander's reported strong operating results for the first quarter of fiscal year 2012.  The company reported net sales of $42.7 million, a 4.8% increase over the $40.7 million in net sales reported during the same quarter of the previous year.  Additionally, J. Alexander's reported diluted earnings per share of $0.39 for first quarter of 2012, a 116% increase over diluted EPS of just $0.18 reported during the first quarter of fiscal year 2011.  In the words of Lonnie J. Stout, Chairman, President and Chief Executive Officer of J. Alexander's, "we believe the economy is on the mend.   We also believe that the upscale casual dining niche will continue to perform well this year and that we are well positioned to continue to improve our profitability."

Given the company's impressive financial results, Robbins Umeda LLP is examining the board's decision to sell J. Alexander's now at $12.00 per share rather than allow shareholders to continue to participate in the company's continued success and future growth prospects. 

Robbins Umeda LLP attorneys highlight that J. Alexander's shareholders have the option to file a class action lawsuit against the company to secure the best possible price for the company's shareholders and the disclosure of material information to shareholders so they can vote on the transaction in an informed manner. 

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.