By Greg Hazley
Benihana Inc., the Japanese restaurant franchise based in Miami, has hired Kekst and Company as it sues the widow of the brand's founder and co-owner and attempts to revamp company shares, a move which would dilute the family holdings.
The Miami-based company this week sued Keiko Aoki, the widow of the company's founder, and Benihana of Tokyo, one of the franchise's largest shareholders which also operates franchises throughout the globe.
The suit was filed Tuesday in Miami-Dade County, Fla., alleging that the widow, Keiko Aoki, directed board member Takanori Yoshimoto, who was also named a defendant, to “engage in actions damaging to all Benihana stockholders,” including an attempt to “dilute” the brand's value and “deceive the public” into thinking the trademark is in question.
Aoki defended herself in the Miami Herald May 18. “I never damaged the company,” she said. “They were the ones that caused the problem, not me. They infringed on our territory so of course, I had to protect BOT.”
Benihana Inc. charges breach of contract, civil conspiracy, and injury to business reputation, among other claims.
Kekst's New York office is working with Benihana. Georgeson is supporting shareholder communications. ICR handles IR.
Benihana said May 13 that it has moved to eliminate its two classes of stock, a proposal which Aoki said she would fight. The change was proposed by the company's board after it abandoned possible pursuit of a sale. It goes must be approved by shareholders.
Miami-based Benihana runs 97 restaurants in the U.S., along with 20 franchises in the U.S., Latin America and Caribbean.
Benihana of Tokyo, based in New York, has 15 locations in Europe, Asia, the Middle East. IT also has a Honolulu eatery and one in Toronto.
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