The Shuman Law Firm today announced that it is investigating claims in connection with the proposed buyout of American Greetings Corporation (“American Greetings” or the “Company”) (NYSE: AM) by members of Company’s founding family.
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 stock they own for a total of approximately $532 million. According to YCharts, this proposed buyout price is well below the Company’s book value of $19.48 per share. The Firm’s investigation focuses on this issue. As one Seeking Alpha article stated with respect to this transaction, “it is unreasonable to sell a company that has stable business and minimum capital expenditure below the book value, especially to the company's senior management.”
If you currently own American Greetings common stock and would like a free consultation concerning your rights and interests, please contact Kip Shuman, Esq. or Rusty Glenn, Esq. toll-free at 866-974-8626 or email Mr. Shuman at firstname.lastname@example.org or Mr. Glenn at email@example.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative litigation.