Law Offices of Howard G. Smith Announces Investigation of Asset Acceptance Capital Corp.
Law Offices of Howard G. Smith Announces Investigation of Asset Acceptance Capital Corp. Business Wire BENSALEM, Pa. -- March 11, 2013 Law Offices of Howard G. Smith 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll-Free at 888-638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com. Contact: Law Offices of Howard G. Smith Howard G. Smith, Esquire 215-638-4847 or Toll-Free: 888-638-4847 email@example.com http://www.howardsmithlaw.com