Faruqi and Faruqui, LLP Logo
Share this page

Advance America, Cash Advance Centers, Inc. (AEA)

(NYSE: AEA)

Summary

Faruqi & Faruqi, LLP Announces Investigation of Advance America, Cash Advance Centers, Inc. (AEA)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”) (NYSE: AEA) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA) in an all-cash deal valued at about $655.58 million. Under the terms of the proposed transaction, Advance America shareholders will receive $10.50 in cash for each share of Advance America common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $11.00 for Advance America.

Whether Advance America’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Advance America’s shares and by how much this proposed transaction undervalues the Company to the detriment of Advance America’s shareholders are the key focus of this investigation.

Request Information

Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.

  • Company:
    Advance America, Cash Advance Centers, Inc. (AEA)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Send Information

If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.