Glancy Binkow & Goldberg LLP Announces Investigation of A.C. Moore Arts & Crafts, Inc.
October 19 2011 - 7:49PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the Board of Directors of
A.C. Moore Arts & Crafts, Inc. (“A.C. Moore” or the “Company”)
(NASDAQ:ACMR) concerning the proposed acquisition of the Company by
Sbar’s, Inc. The proposed transaction is valued at approximately
$40.8 million or $1.60 per share.
The investigation relates to whether the Board of Directors of
A.C. Moore breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. The Company has seen substantial recent growth. Its
share price nearly doubled from $1.83 on December 6, 2010, to $3.40
on March 21 2011, and at least one analyst has set a target price
for the Company’s stock at $3.00.
If you are a shareholder of A.C. Moore, 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 Louis Boyarsky, Esquire, of Glancy Binkow
& Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los
Angeles, California 90067, by telephone at (310) 201-9150, Toll
Free at (888) 773-9224, by e-mail to shareholders@glancylaw.com, or
visit our website at http://www.glancylaw.com.
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