A plan by Books-A-Million’s executive chairman and largest shareholder, Clyde B. Anderson, to pay $48.8 million, or $3.05 per share, to purchase all remaining shares in the company that it does not already own and then privatize the book retailer has generated three separate lawsuits in the Delaware Court of Chancery.
The lawsuits,Ye v. Anderson ,Collins v. Anderson andVance v. Anderson , were filed with the court last week and have yet to be assigned to a judge. It is likely that the lawsuits, which are all seeking class action status, will be consolidated.
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