NEW YORK--(BUSINESS WIRE)--WeissLaw LLP, a national class action, shareholder rights law firm with offices in New York and Los Angeles, is examining possible breaches of fiduciary duty and other violations of law by the Board of Directors of Asset Acceptance Capital Corp. (“Asset Acceptance” or the “Company”) (NASDAQ: AACC) for agreeing to be acquired by Encore Capital Group, Inc. (“Encore”) in a transaction valued at approximately $200 million. Under the agreement, Encore will acquire all outstanding Asset Acceptance stock for $6.50 per share. Asset Acceptance shareholders will have the option to receive their consideration in cash or Encore stock or any combination of cash and Encore stock, at their election, with the aggregate stock consideration across all shareholders capped at 25 percent of the total equity consideration to be received.
WeissLaw LLP is investigating whether Asset Acceptance’s Board acted in the best interests of Asset Acceptance’s public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Encore. Notably, prior to the announcement of the deal, several analysts set the price target for the stock significantly above the price offered by Encore under the merger agreement, with a high target of $8.00. If you own Asset Acceptance shares and would like more information about your rights or our investigation, please contact Kelly C. Keenan either by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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