An investigation on behalf of investors of Books-A-Million, Inc. (NASDAQ:BAMM) in connection with the proposed takeover was announced and NASDAQ:BAMM stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 07/27/2015 -- The Shareholders Foundation announces that an investigation on behalf of investors, who currently hold shares of Books-A-Million, Inc. (NASDAQ:BAMM), is ongoing concerning whether the takeover of Books-A-Million, Inc.. is unfair to NASDAQ:BAMM stockholders.
Investors who purchased shares of Books-A-Million, Inc. (NASDAQ:BAMM) and currently hold any of those NASDAQ:BAMM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Books-A-Million, Inc. breached their fiduciary duties owed to NASDAQ:BAMM investors in connection with the proposed acquisition.
On July 13, 2015, Books-A-Million, Inc. (NASDAQ:BAMM) announced that it has signed a definitive agreement under which a newly organized entity owned by the Anderson Family, including Clyde B. Anderson, Executive Chairman of the Company, and related persons and entities, will acquire the Company. Under the agreement, holders of the Company's outstanding shares of the common stock, excluding the Anderson Family and related persons and entities, along with certain members of management who elect to rollover their shares, will receive $3.25 per share in cash.
However, given that at least one analyst has set the high target price for NASDAQ:BAMM shares at $12.00 per share, the investigation concerns whether the offer is unfair to NASDAQ:BAMM stockholders. More specifically, the investigation concerns whether the Books-A-Million Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Books-A-Million, Inc. (NASDAQ:BAMM) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com