---
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"
generated_at: "2026-10-14T20:50:08.222562+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Nathan's Famous faces merger suits; supplemental proxy shows Jefferies valuations mostly below $102 deal price

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: litigation
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-115866
- JSON: https://secwatch.observer/filing/0001104659-26-115866.json
- Plain text: https://secwatch.observer/filing/0001104659-26-115866.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.