ALCO Stores Merger Litigation (Nasdaq: ALCS)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of ALCO Stores, Inc. - ALCS
BALA CYNWYD, July 26, 2013 /PRNewswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of ALCO Stores, Inc. (“Alco” or the “Company”) (Nasdaq- ALCS -News) relating to the proposed acquisition by Argonne Capital Group LLC.
Under the terms of the transaction, ALCO shareholders will receive only $14.00 in cash for each share of Alco stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of ALCO for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as ALCO is strongly-positioned for growth given that the Company has 213 stores in 23 states specializing in underserviced markets. In addition, the transaction appears to value ALCO at a discount to the Company’s reported book value.
If you own shares of ALCO common 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 firstname.lastname@example.org, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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