Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”) (NYSE: AEA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA) in an all-cash deal valued at about $655.58 million. Under the terms of the proposed transaction, Advance America shareholders will receive $10.50 in cash for each share of Advance America common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $11.00 for Advance America. Request more information now by clicking here: www.faruqilaw.com/AEA Whether Advance America’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Advance America’s shares and by how much this proposed transaction undervalues the Company to the detriment of Advance America’s shareholders are the key focus of this investigation. Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. If you own common stock in Advance America and wish to obtain additional information, please visit us at www.faruqilaw.com/AEA or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.
The ex-dividend date for Advance America Cash Advance Centers (NYSE:AEA) is tomorrow, February 23, 2012. Owners of shares as of market close today will be eligible for a dividend of 6 cents per share. At a price of $10.41 as of 10 a.m., the dividend yield is 2.4%.
Advance America Cash Advance Centers (NYSE:AEA) is trading at unusually high volume Thursday with 16.6 million shares changing hands. It is currently at 30.9 times its average daily volume and trading up $2.59 (+32.7%).
Advance America Cash Advance Centers (NYSE:AEA) hit a new 52-week high Tuesday as it is currently trading at $9.39, above its previous 52-week high of $9.32 with 352,353 shares traded as of 1:34 p.m. ET. Average volume has been 534,400 shares over the past 30 days.