NEW YORK, May 18, 2015 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of ANN INC. ("ANN" or the "Company") (NYSE: ANN) breached its fiduciary duty to its shareholders in agreeing to sell ANN to ascena Retail Group, Inc. ("ascena").
Under the terms of the agreement, ANN shareholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in cash for each share they own. The investigation is focused on the potential unfairness of the price to ANN shareholders and the process by which the ANN Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as an ANN stockholder, with no obligation or cost to you, please contact Joseph R. Seidman, Jr. at:
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SOURCE Bernstein Liebhard LLP