BALA CYNWYD, Pa.--(BUSINESS WIRE)--Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Charming Shoppes, Inc. (“Charming” or the “Company”) (Nasdaq: CHRS) relating to the proposed acquisition by Ascena Retail Group, Inc. (“Ascena”) (Nasdaq: ASNA).
Under the terms of the transaction, Charming shareholders would receive only $7.35 in cash for each share of Charming stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Charming for not acting in the Company’s shareholders' best interests in connection with the sale process to Ascena. The transaction may undervalue Charming as an analyst has set a price target for Charming stock at 9.00 per share.
If you own shares of Charming stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, visiting http://brodsky-smith.com/422-chrs-charming-shoppes-inc.html, or by calling toll free 877-LEGAL-90.