Morton's Restaurant Group, Inc. : Morton's Investor Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate the Board of Morton's Restaurant Group, Inc. Concerning the Acquisition of MRT by Fertitta Morton's Restaurants Inc.

DALLAS, Dec. 16, 2011 /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 the remaining shares of Morton's Restaurant Group, Inc. ("Morton's" or "MRT") (NYSE: MRT) to Tilman J. Fertitta, through Fertitta's wholly-owned company, Fertitta Morton's Restaurants Inc. for shareholders. Under the proposed acquisition, Morton's shareholders will receive only $6.90 in cash for each share of Morton's/MRT stock owned, which is significantly less than the closing price of Morton's shares as recently as late July 2011, and less than the $9.00 per share target price announced by analysts.

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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 [phone], via e-mail at [e-mail], or Willie Briscoe at The Briscoe Law Firm, PLLC, [phone], or via email at [e-mail]. There is no cost or fee to you.

Under the terms of the definitive acquisition agreement, Morton's will commence a tender offer within ten days of the acquisition announcement and complete the transaction through a second-step merger. The transaction is expected to close in February 2012.

The investigation centers on whether Morton's shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Morton's' stock, and whether Morton's' board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. More specifically, although the acquisition price reportedly represents a premium of approximately 34% over Morton's' closing price the day before the buyout announcement, Morton's/MRT shares closed as high as $7.74 per share as recently as July 22, 2011, and MRT shares closed well above $7.00 per share for a significant period of time in late March through July 2011. In addition, at least one analyst has set a target price for Morton's/MRT shares stock at $9.00 per share. According to former SEC attorney and shareholder rights advocate Willie Briscoe, "Based on these and other factors, we are concerned that the transaction may significantly undervalue Morton'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