Benihana Asks 2nd Circ. To Chop Suit Over $8M Eatery Deal

Law360, New York (November 15, 2011, 5:29 PM EST) -- Japanese steakhouse chain Benihana Inc. on Tuesday urged the Second Circuit to toss a lawsuit that claims it violated a stock purchase contract connected with its $8.1 million buy of Haru Holding Corp., saying allegations about its number crunching are unfounded.

Benihana — which with 96 restaurants is among the U.S.' leading Japanese-themed restaurant chains — in 1999 bought control of 80 percent of New York-based sushi chain Haru for $8.1 million, with the option to buy the remaining 20 percent.

The problem, Haru's old owners...
To view the full article, register now.