Acquisition of American Greetings Corporation in a Management Led Buy-Out by
the Weiss Family May Not Be in the Best Interests of American Greetings
SAN DIEGO and CLEVELAND, April 4, 2013
SAN DIEGO and CLEVELAND, April 4, 2013 /PRNewswire/ -- Shareholder rights
attorneys at Robbins Arroyo LLP are investigating the acquisition of American
Greetings Corporation (NYSE: AM) by the Weiss Family. On April 1, 2013,
American Greetings announced the signing of a definitive merger agreement
whereby the Weiss Family will acquire American Greetings for $18.20 per share
The Board of Directors' Actions May Prevent American Greetings Shareholders
from Receiving Maximum Value for Their Stock
Robbins Arroyo LLP's investigation focuses on whether the board of directors
at American Greetings 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 $18.20 merger consideration represents a
premium of only 13% based on American Greetings' closing price on March 28,
2013, the last trading day prior to the merger announcement. Further,
following completion of the merger, three of American Greetings' officers,
Director and Chief Executive Officer Zev Weiss, Director, President, and Chief
Operating Officer Jeffrey Weiss, and Senior Vice President Erwin Weiss, will
continue to manage the surviving corporation.
Given these facts, the firm is examining whether the board of directors'
decision to sell American Greetings for $18.20 per share is fair to
shareholders and maximizes the value for their shares.
American Greeting 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. American Greetings shareholders interested in information
about their rights and potential remedies can contact Darnell R. Donahue at
(800) 350-6003, firstname.lastname@example.org, 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 http://www.robbinsarroyo.com.
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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