Settlement OK'd In Shareholder Suit Over $41M AC Moore Buy

Law360, Philadelphia (September 28, 2012, 5:35 PM EDT) -- A class action over A.C. Moore's $40.8 million acquisition by Sbar Inc. was put to bed by a Pennsylvania state judge Friday after the arts-and-crafts retailer agreed to hand over additional financial information to investors, including terms of other acquisition offers the company received.

In a brief hearing in the Philadelphia Court of Common Pleas, Judge Mary Collins gave final approval to the settlement agreement after no objections to its provisions — which required A.C. Moore board Chairman Michael Joyce and company officials to turn over...
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