Law Office of Brodsky & Smith, LLC Announces Investigation of Asset Acceptance Capital Corporation
23 Março 2013 - 1:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Asset Acceptance Capital Corporation (“Asset Acceptance” or the
“Company”) (Nasdaq: AACC) relating to the proposed acquisition by
Encore Capital Group, Inc. (“Encore”).
Under the terms of the transaction, Asset Acceptance
shareholders will receive only $6.50 in cash for each share of
Asset Acceptance stock they own. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Asset Acceptance for not acting in
the Company’s shareholders' best interests in connection with the
sale process to Encore. The transaction may undervalue the Company
and will result in a loss for many long term shareholders. For
example Asset Acceptance stock traded at $7.97 as recently as
October 15, 2012 and $7.90 on July 5, 2012. In addition, an analyst
has set an $8.00 per share price target for Asset Acceptance
stock.
If you own shares of Asset Acceptance 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/550-aacc-asset-acceptance-capital-corporation.html,
by calling toll free 877-LEGAL-90.
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