The Lin Law Firm Announces Investigation Regarding The Acquisition Of Charming Shoppes, Inc.
LOS ANGELES, May 2, 2012 /PRNewswire/ -- The Lin Law Firm, A Professional Law Corporation, is investigating potential claims against the Board of Directors of Charming Shoppes, Inc. ("Charming Shoppes" or the "Company") (Nasdaq: CHRS) regarding the proposed acquisition of the Company by Ascena Retail Group (Nasdaq: ASNA) in a cash transaction valued at approximately $890 million.
On May 2, 2012, it was announced that Ascena and Charming Shoppes had entered into a definitive agreement under which Ascena would acquire Charming Shoppes. Under the terms of the agreement, Charming Shoppes shareholders would receive $7.35 per share in cash. At least one analyst has set a target price of $9.00 per share for Charming Shoppes.
If you own Charming Shoppes shares and would like to discuss your rights and interests or have any questions with respect to this matter, please contact Elizabeth Lin, Esq. by email at elizabethL@thelinlawfirm.com, or by telephone at (866) 864-3898 or (909) 595-5522, ext. 303.
The Lin Law Firm, A Professional Law Corporation, is a litigation law firm with significant experience in securities litigation and in protecting investors against corporate wrongdoing. For additional information, please visit www.thelinlawfirm.com.
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