ANN INVESTOR NOTICE: Faruqi & Faruqi, LLP Announces the Investigation of ANN, Inc. (ANN) Over the Fairness of the Proposed Sale of the Company to Ascena Retail Group Inc.

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ANN, Inc.

NEW YORK, NY / ACCESSWIRE / May 27, 2015 / Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of ANN, Inc. (“ANN” or the “Company”) (NYSE: ANN) for potential breaches of fiduciary duties in connection with the sale of the Company to Ascena Retail Group Inc. (NasdaqGS: ASNA) for approximately $2.16 billion. The Company’s stockholders will only receive $37.34 in cash and 0.68 of a share of Ascena common stock in exchange for each share of ANN common stock they own. The implied price would be roughly $47.00 contingent on Ascena’s previous closing price. However, at least one analyst has set a price target of $48.00 for ANN’s common stock.

Click here for more information: www.faruqilaw.com/ANN. There is no cost or obligation to you.

The investigation focuses on whether ANN’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of ANN’s shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

If you own common stock in ANN and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/ANN or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.

Contact:

Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330

Attorney Advertising. (C) 2015 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.

SOURCE: Faruqi & Faruqi, LLP

ReleaseID: 429301