SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of J. Alexander's Corp. in Connection with the Sale of the Company to Fidelit

NEW YORK, June 28, 2012

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Under the terms of the transaction, J. Alexander's shareholders may elect to receive either: (i) $12 in cash; or (ii) a combination of $3 in cash and one share of Class A common stock of American Blue Ribbon Holdings Inc. ("ABRH"), subject to proration at closing so that the J. Alexander's shareholders that receive stock will own a total of 49.9% of the shares in ABRH for each share of stock they own.  The investigation concerns whether the Company's Board breached its fiduciary duties by failing to adequately shop the Company before entering into this transaction, whether Fidelity is underpaying for J. Alexander's shares, thus unlawfully harming J. Alexander's stockholders, and whether this transaction is structured in the best interests of shareholders. 

If you own common stock in J. Alexander's and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/j-alexanders-jax.

Levi & Korsinsky is a national firm with offices in New York and Washington D.C.  The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Levi & Korsinsky, LLP 
Joseph Levi, Esq. 
Eduard Korsinsky, Esq. 
30 Broad Street - 24th Floor 
New York, NY 10004           
Tel: (212) 363-7500 
Toll Free:  (877) 363-5972 
Fax: (212) 363-7171 
www.zlk.com