STEVENSON, Md., May 20, 2015 /PRNewswire/ -- The securities
litigation law firm of Brower Piven, A Professional Corporation,
has commenced an investigation into possible breaches of fiduciary
duty and other violations of state law by the Board of Directors of
ANN, Inc. ("ANN" or the "Company") (NYSE: ANN) relating to the
proposed buyout of the Company by Ascena Retail Group Inc.
Under the terms of the transaction, ANN shareholders are
anticipated to receive $37.34 in cash
and 0.68 of an Ascena share for each share of ANN common stock
held. The firm's investigation seeks to determine, among
other things, whether the Company's Board of Directors failed to
satisfy their duties to shareholders, including whether the Board
adequately pursued alternatives to the acquisition and whether the
Board obtained the best price possible for the Company's shares of
common stock.
If you currently own common stock of ANN and believe that the
proposed buyout price is too low, or you would like to learn more
about the investigation being conducted by Brower Piven, please
visit our website at
http://www.browerpiven.com/currentinvestigations.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Telephone: 410-415-6616
hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation