Law Offices of Howard G. Smith LLP Continues Investigation of A.C. Moore Arts & Crafts, Inc.
October 07 2011 - 2:00PM
Business Wire
Law Offices of Howard G. Smith is continuing its investigation
of potential claims against the Board of Directors of A.C. Moore
Arts & Crafts, Inc. (“A.C. Moore” or the “Company”)
(NASDAQ:ACMR) related to the proposed acquisition of the Company by
Sbar’s, Inc. The transaction is valued at approximately $40.8
million or $1.60 per share. The acquisition is expected to close
during the fourth quarter of 2011.
The investigation concerns 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. Further, 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 Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
ACM Research (NASDAQ:ACMR)
Historical Stock Chart
From Mar 2024 to Apr 2024
ACM Research (NASDAQ:ACMR)
Historical Stock Chart
From Apr 2023 to Apr 2024