LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Asset Acceptance Capital Corp. (“Asset Acceptance” or the “Company”) (NASDAQ: AACC) related to the proposed acquisition of the Company by Encore Capital Group Inc. The transaction is valued at approximately $200 million, or $6.50 per share. Under the terms of the deal, shareholders will have the option to receive the consideration in cash, Encore stock, or a combination of the two.
This investigation concerns whether the Board of Directors of Asset Acceptance breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Its share price has skyrocketed from $2.86 on November 21, 2011 to $7.97 on October 15, 2012. Further, at least one analyst has set a target price for the Company’s stock at $8 per share.
If you are a shareholder of Asset Acceptance, if you have information or would like to learn more about our investigation, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to firstname.lastname@example.org.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.