SHAREHOLDER NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of ANN, Inc. Over the Proposed Sale of the Company to Ascena Retail Group Inc.
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ANN, Inc. (“ANN” or the “Company”) (NYSE: ANN) for potential breaches of fiduciary duties in connection with the sale of the Company to Ascena Retail Group Inc. (NasdaqGS: ASNA) for approximately $2.16 billion. The Company’s stockholders will only receive $37.34 in cash and 0.68 of a share of Ascena common stock in exchange for each share of ANN common stock they own. The implied price would be roughly $47.00 contingent on Ascena’s previous closing price. However, at least one analyst has set a price target of $48.00 for ANN’s common stock.
If you own common stock in ANN and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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