Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”) (NYSE: AEA) concerning possible breaches of fiduciary duty and other violations of law related to the sale of the Company to Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA.MX) for $10.50 per share or approximately $780 million. Click here to learn more and to discuss your shareholder rights: http://www.rigrodskylong.com/investigations/Advance-America-Cash-Advance-Centers-inc-aea/ The investigation concerns whether the Company’s board of directors achieved the best price reasonably available in negotiating the sale of Advance America and whether the cash price to be paid to Advance America’s shareholders is fair and adequate. If you own shares of Advance America and purchased your shares before February 16, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Scott J. Farrell, Esquire by telephone toll free at (888) 969-4242 or (516) 683-3516 or by e-mail to email@example.com. Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.
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.