SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Books-A-Million Inc. (NASDAQ: BAMM) breached their fiduciary duties in connection with the proposed sale of the Company to Clyde B. Anderson, Books-A-Million Executive Chairman and the newly organized entity owned by his family.
Books-A-Million is a book retailing company, operating superstores and traditional bookstores in the eastern United States.
On July 13, 2015, Books-A-Million announced that it had signed a definitive merger agreement with Mr. Anderson. Under the terms of the agreement, Anderson will pay $3.25 per Books-A-Million share in cash.
The investigation concerns whether the Books-A-Million board and Mr. Anderson are acting in the shareholders’ best interests, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock.
If you are a shareholder of Books-A-Million and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.