NEW YORK, May 18, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Ann Inc. ("Ann" or the "Company") (NYSE: ANN) concerning the proposed acquisition of the Company by Ascena Retail Group Inc. ("Ascena").
Under the terms of the transaction, Ascena would acquire Ann for approximately $2.16 billion. Ann shareholders would receive $37.34 in cash and 0.68 shares of Ascena common stock (NASDAQ: ASNA) per share of Ann owned, representing a value of approximately $46.59. According to Yahoo Finance, at least one analyst has set a target price for Ann of $48 per share.
Our investigation concerns whether the Ann board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company stockholders.
If you own Ann shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I Sachs-Michaels, Esq. Robert I. Harwood, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: firstname.lastname@example.org Website: http://www.hfesq.com Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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