ANN SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of ANN, Inc. (ANN) Over the Fairness of the Proposed...
May 22 2015 - 9:52AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of ANN, Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a
leading national securities firm headquartered in New York City, is
investigating the Board of Directors of ANN, Inc. (“ANN” or the
“Company”) (NYSE:ANN) for potential breaches of fiduciary duties in
connection with the sale of the Company to Ascena Retail Group Inc.
(NasdaqGS: ASNA) for approximately $2.16 billion. The Company’s
stockholders will only receive $37.34 in cash and 0.68 of a share
of Ascena common stock in exchange for each share of ANN common
stock they own. The implied price would be roughly $47.00
contingent on Ascena’s previous closing price. However, at least
one analyst has set a price target of $48.00 for ANN’s common
stock.
Click here for more information:
www.faruqilaw.com/ANN. There is no cost or
obligation to you.
The investigation focuses on whether ANN’s Board of Directors
breached their fiduciary duties to the Company’s stockholders by
failing to conduct a fair sales process and whether and by how much
this proposed transaction undervalues the Company to the detriment
of ANN’s shareholders.
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. To keep track of the latest
securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
If you own common stock in ANN and wish to obtain additional
information and protect your investments free of charge, please
visit us at www.faruqilaw.com/ANN or contact Juan E. Monteverde,
Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone
at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2015 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.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150522005513/en/
Faruqi & Faruqi, LLP369 Lexington Avenue, 10th FloorNew
York, NY 10017Attn: Juan E. Monteverde,
Esq.jmonteverde@faruqilaw.comToll Free: (877) 247-4292Phone: (212)
983-9330