BALA CYNWYD, Pa., Feb. 16, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Advance America,
Cash Advance Centers, Inc. ("Advance America" or the "Company")
(NYSE: AEA) relating to the proposed acquisition by Grupo Elektra,
S.A.B. de C. V. ("Grupo").
Under the terms of the transaction, Advance America shareholders
would receive $10.50 in cash for each
share of Advance America stock they own. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Advance America for not acting in
the Company's shareholders' best interests in connection with the
sale process to Grupo. The transaction may undervalue Advance
America as an analyst has set a price target of $11.00 for each Advance America share. In
addition, the price being offered represents only a slight premium
above the $9.33 Advance America's
stock traded at on December 6,
2011.
If you own shares of Advance America stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/387-aea-advance-america-cash-advance-centers-inc.html,
or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC