WILMINGTON, Del., May 18, 2015 /PRNewswire/ -- 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 email@example.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.
SOURCE Rigrodsky & Long, P.A.