WILMINGTON, Del., May 18, 2015 /PRNewswire/ -- Rigrodsky &
Long, P.A.:
- Do you own shares of ANN INC. (NYSE:
ANN)?
- Did you purchase any of your shares prior to May 18, 2015?
- Do you think the proposed buyout value is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating
potential legal claims against the board of directors of ANN INC.
("ANN" or the "Company") (NYSE: ANN) regarding possible breaches of
fiduciary duties and other violations of law related to the
Company's entry into an agreement to be acquired by Ascena Retail
Group, Inc. ("Ascena") (NASDAQ GS: ASNA), in a transaction valued
at approximately $2.0 billion.
Click here to learn more:
http://rigrodskylong.com/investigations/ann-inc-ann.
Under the terms of the agreement, shareholders of ANN will
receive $37.34 in cash and 0.68
shares of Ascena for each share of ANN they own. Based on
Ascena's closing price on May 15,
2015, ANN shareholders would have received compensation
valued at approximately $47.00 per
share.
The investigation concerns whether ANN's board of directors
failed to adequately shop the Company and obtain the best possible
value for ANN's shareholders before entering into an agreement with
Ascena. According to Yahoo! Finance, at least one analyst has
issued a price target for ANN stock at $48.00 per share.
If you own the common stock of ANN and purchased your shares
before May 18, 2015, 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 Seth D.
Rigrodsky or Gina M. Serra at
Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120,
Wilmington, DE 19803, by telephone
at (888) 969-4242; by e-mail to info@rl-legal.com, or at:
http://rigrodskylong.com/investigations/ann-inc-ann.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights
litigation and corporate governance litigation, on behalf of
shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a
similar outcome.
CONTACT:
Rigrodsky & Long, P.A.
Seth D. Rigrodsky
Gina M. Serra
(888) 969-4242
(302) 295-5310
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com
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SOURCE Rigrodsky & Long, P.A.