The Law Office of James C. Kelly Announces Investigation into Buyout Offer of Books-A-Million, Inc.

News provided by

The Law Office of James C. Kelly

30 Apr, 2012, 01:35 ET

NEW YORK, April 30, 2012 /PRNewswire/ -- The Law Office of James C. Kelly is investigating Books-A-Million, Inc. ("Books-A-Million" or the "Company") (NASDAQ: BAMM) for possible breaches of fiduciary duty and other violations of state law in connection with the Anderson family's proposal to acquire through a merger transaction 100 percent of the outstanding publicly held shares of common stock of Books-A-Million.  The Anderson family already owns approximately 53% of the common stock of the Company.  Under the terms of the transaction, Books-A-Million shareholders will receive $3.05 for each share of Books-A-Million stock they own.  The proposal values the total equity of the Company at approximately $48.8 million.

The investigation concerns whether the Anderson family breached their fiduciary duties to stockholders by offering too low of a price to purchase the remaining shares of the Company.  Indeed, the median price target for shares of Books-A-Million is $12 per share.  In addition, in making their offer, the Anderson family has stated that they "are interested only in acquiring the outstanding shares of the Company that they do not already own, and are not currently interested in considering a sale of their shares to a third party or any merger or other strategic transaction involving any third party and do not intend to vote in their capacity as shareholders in favor of any such transaction."

If you own shares of Books-A-Million and wish to obtain additional information, contact The Law Office of James C. Kelly.  Please contact James C. Kelly, Esq., by telephone at (888) 643-7517 or e-mail at [email protected].

The Law Office of James C. Kelly is a New York City-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please visit its website at http://www.jckellylaw.com.

Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE The Law Office of James C. Kelly

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.