{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-26-115866","form_type":"8-K","ticker":"NATH","cik":"0000069733","company_name":"NATHANS FAMOUS, INC.","filed_at":"2026-10-14T20:49:04+00:00","discovered_at":"2026-10-14T20:50:00.241690+00:00","generated_at":"2026-10-14T20:50:08.222562+00:00","sec_items":["8.01"],"event_type":"litigation","sentiment":"negative","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Nathan's Famous faces merger suits; supplemental proxy shows Jefferies valuations mostly below $102 deal price","bullets":["Two NY Supreme Court suits filed Sept. 30, 2026 (Robert Jones, William Johnson) allege Nathan's proxy for the Smithfield merger was false/misleading; seek injunction, rescission, damages.","15 stockholder demand letters plus two DGCL Section 220 books-and-records demands challenge proxy disclosures ahead of Oct. 23, 2026 special meeting; company denies merit.","Supplemental disclosure: Jefferies selected-companies analysis implies $57.55-$78.60 (CY25E) and $65.70-$90.80 (CY26E) per share vs $102.00 merger consideration.","Selected transactions analysis implies $61.80-$86.80 per share; DCF yields $95.35-$124.60 (or $103.00 assuming two quarterly dividends).","Jefferies used Nathan's net debt of $24.5M as of Dec. 28, 2025 and ~4.155M fully diluted shares; merger valued at $102.00/share."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-26-115866","json":"https://secwatch.observer/filing/0001104659-26-115866.json","markdown":"https://secwatch.observer/filing/0001104659-26-115866.md","text":"https://secwatch.observer/filing/0001104659-26-115866.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/69733/000110465926115866/0001104659-26-115866-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/69733/000110465926115866/tm2627565d1_8k.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-14T20:50:08.222562+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}