Rigrodsky & Long, P.A., a national securities firm with offices in Delaware and New York, announces that it is investigating potential claims against the board of directors of Books-A-Million, Inc. (“Books-A-Million” or the “Company”) (NASDAQ: BAMM). The investigation concerns possible breaches of fiduciary duty and other violations of law related to Books-A-Million’s receipt of a proposal from its Chairman, Mr. Clyde B. Anderson, and his family, to acquire all of the outstanding shares of the Company’s common stock in a going private transaction valued at approximately $48.8 million. Under the terms of the proposal, public shareholders of Books-A-Million will receive $3.05 in cash for each share of Books-A-Million they own, well below the $12.00 per share target price recently announced by analysts. Mr. Anderson and his family currently directly or indirectly control approximately 53% of the Company’s common stock. The investigation concerns the Company’s board of directors’ process for consideration of the proposed transaction, whether Books-A-Million is acting in its shareholders’ best interests and whether the proposed consideration to be paid to Books-A-Million shareholders would be fair and adequate. If you own the common stock of Books-A-Million and purchased your shares before April 28, 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 or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/books-a-million-inc-bamm. 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.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Press Releases
NFL Pushes for Regulation Following Supreme Court's Sports Gambling Ruling
The Supreme Court rules that previous congressional action forbidding states from legalizing sports betting was unconstitutional.
Walmart CEO: 'We Are Transforming Globally' With Flipkart
On its investor call on Wednesday morning, Walmart discusses the Flipkart deal.
March 24 Full-Day Course Offering: Professional Approach to Trading SPX
OptionsProfits, the CBOE, and Option Pit are hosting a class on March 24 that covers a wide variety of methods to trade the S&P 500.