Acquisition of Asset Acceptance Capital Corp. by Encore Capital Group, Inc. May Not Be in the Best Interests of Asset Acceptance

 Acquisition of Asset Acceptance Capital Corp. by Encore Capital Group, Inc.
      May Not Be in the Best Interests of Asset Acceptance Shareholders

PR Newswire

SAN DIEGO, and WARREN, Mich., March 8, 2013

SAN DIEGO,and WARREN, Mich., March 8, 2013 /PRNewswire/ --Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the acquisition of Asset
Acceptance Capital Corp. (NASDAQ: AACC) by Encore Capital Group, Inc. (NASDAQ:
ECPG). On March 6, 2013, the two companies jointly announced the signing of a
merger agreement whereby Encore Capital will acquire Asset Acceptance for
$6.50 per share. Asset Acceptance shareholders can elect to receive their
consideration in cash or in Encore stock or a combination of cash and Encore


Asset Acceptance Shareholders Might Not Receive Maximum Value for Their Stock

Robbins Arroyo LLP's investigation focuses on whether the board of directors
at Asset Acceptance is undertaking a fair process to obtain maximum value and
adequately compensate its shareholders in the merger or whether they are
seeking to benefit themselves. 

The $6.50 merger consideration represents a premium of only 12.85% based on
Asset Acceptance's closing price on March 5, 2013. Moreover, the offer price
is substantially below the $8.00 target price set by First Analysis and the
$7.00 target price maintained by Sidoti and Co. since September 11, 2012.
Further, the company's stock has traded above the offer price on numerous
occasions during the past year, trading as high as $6.70 as recently as
November 6, 2012.

Is the Acquisition Best for Asset Acceptance and Its Shareholders?

Asset Acceptance also released its fourth quarter and full year 2012 earnings
on March 6, 2013, reflecting increases in cash collections and adjusted EBITDA
over the same periods in 2011. Specifically, Asset Acceptance reported
increased cash collections to $85.7 million and $367.8 million for the fourth
quarter and full year respectively. Further, adjusted EBITDA increased to
$40.7 million for the quarter and $183.2 million for the year. In announcing
these results, Rion Needs, President and CEO of Asset Acceptance commented,
"We continue to show progress in key performance metrics and have ambitious
goals to further improve efficiency ... we believe we remain well positioned
to reach our operational and profitability goals on 2013 and beyond."

Given these facts, the firm is examining the board of directors' decision to
sell Asset Acceptance now rather than allow shareholders to continue to
participate in the company's continued success and future growth prospects. 

Asset Acceptance shareholders have the option to file a class action lawsuit
to secure the best possible price for shareholders and the disclosure of
material information so shareholders can vote on the transaction in an
informed manner. Asset Acceptance shareholders interested in information
about their rights and potential remedies can contact Darnell R. Donahue at
(800) 350-6003,, or via the shareholder information
form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please
go to

Press release link:

Attorney Advertising.Past results do not guarantee a similar outcome.

Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003

SOURCE Robbins Arroyo LLP

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