Large Firm Sophistication – Small Firm Values

Andre Springer

Books-A-Million, Inc.

BOOKS-A-MILLION INVESTIGATION - Andrews & Springer LLC Is Investigating Books-A-Million, Inc. On Potential Acquisition - BAMM

(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Books-A-Million, Inc. (NASDAQ: BAMM) (“Books-A-Million” or the “Company”) relating to the potential sale of the Company to Executive Chairman Clyde B. Anderson and the Anderson Family. On January 29, 2015, Books-A-Million announced that it was in receipt of a buyout proposal from the Anderson Family, currently under control of 58.2% of the Company’s stock, in which the Anderson Family would acquire Books-A-Million in a potential buyout worth only $2.75 per share. A copy of the proposal can be accessed here.

Our investigation so far has revealed that the proposal significantly undervalues the Company’s book value. An analyst on Yahoo Finance! has set a target price of $12.00 per share. The Anderson Family’s latest proposal is roughly 336% below that target. The Anderson Family’s proposal is also substantially lower than the Company’s $6.60 per share book value.

This is not the first time the Anderson Family has attempted to sell the Company for inadequate consideration. Indeed, in mid-2012 the Anderson Family attempted to buy back total control of the nation’s second largest book chain, but withdrew the offer.

Andrews & Springer’s investigation focuses on the consideration of the proposal as well as the steps taken by the Company's Board of Directors to comply with its fiduciary duties.

If you currently own shares of Books-A-Million and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/BAMM-PROPOSAL or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates. 

Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.