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



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.

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Faruqi & Faruqi, LLP
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