Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of American Greetings Corporation (“American Greetings” or the “Company”) (NYSE: AM) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s receipt of a proposal to be taken private by a group led by the Company’s Chief Executive Officer, Zev Weiss, and its President and Chief Operating Officer, Jeffrey Weiss, in a transaction valued at approximately $530 million.
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Under the terms of the proposal, public shareholders of American Greetings will receive $17.18 per share in cash for each share of American Greetings they own.
The investigation concerns the Company’s board of directors’ process for consideration of the proposed transaction, whether American Greetings is acting in its shareholders’ best interests and whether the proposed consideration to be paid to American Greetings’ shareholders would be fair and adequate. According to Yahoo! Finance, at least one analyst has set a price target for American Greetings stock at $30.00 per share.
If you own the common stock of American Greetings and purchased your shares before September 26, 2012, if you have information or would like to learn more about these claims, 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 Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/american-greetings-corporation-am.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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