ANN INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces Investigation Of Buyout
20 May 2015 - 12:40AM
Business Wire
Rigrodsky & Long, P.A.:
- Do you own shares of ANN INC.
(NYSE: ANN)?
- Did you purchase any of your shares
prior to May 18, 2015?
- Do you think the proposed buyout
value is too low?
- Do you want to discuss your
rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of ANN INC.
(“ANN” or the “Company”) (NYSE: ANN) regarding possible breaches of
fiduciary duties and other violations of law related to the
Company’s entry into an agreement to be acquired by Ascena Retail
Group, Inc. (“Ascena”) (NASDAQ GS: ASNA), in a transaction valued
at approximately $2.0 billion.
Click here to learn more:
http://rigrodskylong.com/investigations/ann-inc-ann.
Under the terms of the agreement, shareholders of ANN will
receive $37.34 in cash and 0.68 shares of Ascena for each share of
ANN they own. Based on Ascena’s closing price on May 15, 2015, ANN
shareholders would have received compensation valued at
approximately $47.00 per share.
The investigation concerns whether ANN’s board of directors
failed to adequately shop the Company and obtain the best possible
value for ANN’s shareholders before entering into an agreement with
Ascena. According to Yahoo! Finance, at least one analyst has
issued a price target for ANN stock at $48.00 per share.
If you own the common stock of ANN and purchased your shares
before May 18, 2015, if you have information or would like to learn
more about these claims, or if you wish to discuss these matters or
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Seth D.
Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter
Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888)
969-4242; by e-mail to info@rl-legal.com, or at:
http://rigrodskylong.com/investigations/ann-inc-ann.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly prosecutes securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, on behalf of shareholders in
states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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version on businesswire.com: http://www.businesswire.com/news/home/20150519006481/en/
Rigrodsky & Long, P.A.Seth D. RigrodskyGina M. Serra(888)
969-4242(302) 295-5310Fax: (302)
654-7530info@rl-legal.comhttp://www.rigrodskylong.com