Bernstein Liebhard LLP Announces Investigation of Acquisition of Advance America, Cash Advance Centers, Inc.
February 16, 2012
Bernstein Liehhard LLP is investigating whether the Board of Directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”) (NYSE: AEA) breached its fiduciary duty to its shareholders in agreeing to sell Advance America to Grupo Elektra, S.A.B. de C.V.
Under the terms of the agreement, Advance America shareholders will receive $10.50 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Advance America shareholders and the process by which the Advance America Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as an Advance America shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.