NEW YORK, March 6, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Asset Acceptance Capital Corp. ("Asset Acceptance" or the "Company") (NASDAQ: AACC) (ISIN: US04543P1003) (CUSIP: 04543P100) concerning the proposed acquisition of Asset Acceptance Capital Corp. by Encore Capital Group, Inc., in a transaction valued at approximately $200 million in Cash.
The investigation concerns whether the Asset Acceptance directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Asset Acceptance shareholders will be entitled to receive $6.50 per share in cash for each share of Asset Acceptance common stock. Asset Acceptance shareholders will have the option to receive their consideration in cash or Encore stock or any combination of cash and Encore stock, at their election, with the aggregate stock consideration across all stockholders capped at 25 percent of total equity consideration to be received. However, the price to EBIT and Revenue multiples are below those of comparable transactions.
Asset Acceptance shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, Inc., Telanetix, Inc., Somerset Hills Bancorp, BioClinica Inc., and Assisted Living Concepts, Inc.
The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP