Law Firm Brower Piven Announces Investigation In Connection With The Acquisition Of Advance America By Grupo Elektra
The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Advance America, Cash Advance Centers, Inc. (“Advance America”) (NYSE: AEA) and other violations of state law by the board of directors of Advance America relating to the proposed acquisition of the company by Grupo Elektra, S.A.B. de C.V. (“Grupo Elektra”). The firm’s investigation seeks to determine, among other things, whether the board breached its fiduciary duties by failing to maximize shareholder value.
On February 16, 2012, Advance America and Grupo Elektra announced that they had entered into a definitive agreement providing for Grupo Elektra to acquire Advance America for $780 million. Under the terms of the merger agreement, Advance America shareholders will receive $10.50 for each share of Advance America common stock held. However, according to Yahoo! Finance, at least one analyst has set a high price target of $11.00 per share.
If you currently own shares of Advance America and would like to learn
more about the investigation being conducted by Brower Piven, you may
email or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV