O'Charley's Inc. Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Sale of O'Charley's Inc. to Fidelity National Financial, Inc.

DALLAS, Feb. 6, 2012 /PRNewswire/ -- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of O'Charley's Inc. ("O'Charley's" or "CHUX") (NASDAQ: CHUX) to Fidelity National Financial, Inc., which already owns approximately 9.5% of the outstanding shares of O'Charley's common stock.  Under the proposed transaction, O'Charley's shareholders will receive $9.85 in cash for each share of O'Charley's/CHUX stock owned.

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If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [email protected], or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at [email protected].  There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction with a total equity value of approximately $221 million.  Under the terms of the deal, Fidelity Financial will commence a tender offer for all of the outstanding shares that it does not already own no later than February 24, 2012.  The deal is expected to close in the second quarter of 2012.

The investigation centers on whether O'Charley's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues O'Charley's stock, and whether O'Charley's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal.  According to shareholder rights attorney Willie Briscoe, "Although the acquisition price represents an approximate 42% premium over the closing price of O'Charley's shares the day prior to the buyout announcement, O'Charley's shares closed at $7.98 per share as recently as July 5, 2011.  Based on these and other factors, we are investigating whether the transaction undervalues O'Charley's stock.  Our lawsuit will seek to obtain the highest share price for all shareholders."

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

SOURCE Powers Taylor, LLP

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