BALA CYNWYD, Pa., Feb. 16, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC 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) relating to the proposed acquisition by Grupo Elektra, S.A.B. de C. V. ("Grupo"). Under the terms of the transaction, Advance America shareholders would receive $10.50 in cash for each share of Advance America stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Advance America for not acting in the Company's shareholders' best interests in connection with the sale process to Grupo. The transaction may undervalue Advance America as an analyst has set a price target of $11.00 for each Advance America share. In addition, the price being offered represents only a slight premium above the $9.33 Advance America's stock traded at on December 6, 2011. If you own shares of Advance America stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, visiting http://brodsky-smith.com/387-aea-advance-america-cash-advance-centers-inc.html, or by calling toll free 877-LEGAL-90. SOURCE Brodsky & Smith, LLC
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.