Levi & Korsinsky is investigating the Board of Directors of Advance America, Cash Advance Centers, Inc. (“Advance America ” or the “Company”) (NYSE: AEA) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA.MX). Under the terms of the agreement, Advance America shareholders will receive $10.50 per share of Advance America stock they own. The transaction has a total approximate value of $780 million.
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The investigation concerns whether the Advance America Board of Directors breached their fiduciary duties to Advance America stockholders by failing to adequately shop the Company before entering into this transaction and whether Grupo Elektra, S.A.B. de C.V. is underpaying for Advance America shares, thus unlawfully harming Advance America stockholders. In particular, at least one analyst set a price target of $11.00 per Advance America share.
If you own common stock in Advance America and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972,
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