Law Offices of Todd M. Garber Announces Investigation of Asset Acceptance Capital Corp.
12 Marzo 2013 - 11:57PM
Business Wire
The Law Offices of Todd M. Garber announces that it is
investigating potential claims against the Board of Directors of
Asset Acceptance Capital Corp. (“Asset Acceptance” or the
“Company”) (NASDAQ: AACC) related to the proposed acquisition of
the Company by Encore Capital Group Inc. The transaction is valued
at approximately $200 million, or $6.50 per share. Under the terms
of the deal, shareholders will have the option to receive the
consideration in cash, Encore stock, or a combination of the
two.
This investigation concerns whether the Board of Directors of
Asset Acceptance 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 has skyrocketed from $2.86 on November 21, 2011 to
$7.97 on October 15, 2012. Further, at least one analyst has set a
target price for the Company’s stock at $8 per share.
If you are a shareholder of Asset Acceptance, if you have
information or would like to learn more about our investigation, 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 Todd M. Garber, Esquire,
of the Law Offices of Todd M. Garber, by telephone at 213-700-7262
or by email to info@toddgarberlaw.com.
This press release may be considered Attorney
Advertising in some jurisdictions under the applicable law and
ethical rules.
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