Harwood Feffer LLP Announces Investigation of Books-A-Million, Inc.
NEW YORK, May 1, 2012 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Books-A-Million, Inc. ("Books-A-Million" or the "Company") (NASDAQ: BAMM) concerning the proposed acquisition of the Company by its Executive Chairman, Clyde B. Anderson, and his family (collectively, the "Anderson Family").
On May 1, 2012, it was announced that Books-A-Million and the Anderson Family have entered into a definitive agreement pursuant to which the Anderson Family will acquire Books-A-Million. Under the agreement, Books-A-Million shareholders will receive $3.05 per share. The Anderson Family already owns greater than 50% of the Company's outstanding shares.
Our investigation concerns whether the Books-A-Million board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own Books-A-Million shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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