May 18, 2015
Bernstein Liebhard LLP is investigating whether the Board of Directors of ANN INC. (“ANN” or the “Company”) (NYSE: ANN) breached its fiduciary duty to its shareholders in agreeing to sell ANN to ascena Retail Group, Inc. (“ascena”).
Under the terms of the agreement, ANN shareholders will receive $37.34 in cash and 0.68 of a share of ascena common stock in cash for each share they own. The investigation is focused on the potential unfairness of the price to ANN shareholders and the process by which the ANN Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.