The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Advance America, Cash Advance Centers, Inc. In Connection With The Sale Of The Company To Grupo Elektra, S.A.B. De C.V.
Levi & Korsinsky is investigating the Board of Directors of Advance
America, Cash Advance Centers, Inc.
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. Click here to learn how to join the action: http://www.zlk.com/advance-america-aea, or call: 877-363-5972. There is no cost or obligation to you. 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 email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, http://www.zlk.com. Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
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.