NEW YORK, May 18, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of ANN, Inc. ("ANN" or the "Company") (NYSE: ANN) (ISIN: US0356231078) (CUSIP: 035623107) concerning the proposed acquisition of ANN by Ascena Retail Group, Inc ("Ascena").
ANN 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 investigation concerns whether the ANN directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, ANN shareholders will receive $37.34 in cash and 0.68 of an Ascena share for each share of ANN common stock. However, the $47.00 per share price implied by the offer is below a recent analyst target of $48.00 per share.
Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, 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 LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP 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.
212-661-1100 ext. 237
SOURCE Pomerantz LLP