Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is
investigating the Board of Directors of ANN, Inc.
NEW YORK, May 18, 2015 /PRNewswire-USNewswire/ -- 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
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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.
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Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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