WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Advance America, Cash Advance Centers, Inc. (“Advance America” or the “Company”) (NYSE: AEA) concerning possible breaches of fiduciary duty and other violations of law related to the sale of the Company to Grupo Elektra, S.A.B. de C.V. (BMV: ELEKTRA.MX) for $10.50 per share or approximately $780 million.
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The investigation concerns whether the Company’s board of directors achieved the best price reasonably available in negotiating the sale of Advance America and whether the cash price to be paid to Advance America’s shareholders is fair and adequate.
If you own shares of Advance America and purchased your shares before February 16, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Scott J. Farrell, Esquire by telephone toll free at (888) 969-4242 or (516) 683-3516 or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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