Rigrodsky & Long, P.A. Appointed as Co-Lead Counsel in Class Action on Behalf of Access to Money, Inc. Shareholders

Rigrodsky & Long, P.A. Appointed as Co-Lead Counsel in Class Action on Behalf of Access to Money, Inc. Shareholders

On September 23, 2011, the Honorable Vice Chancellor John W. Noble of the Delaware Court of Chancery issued an Order appointing Rigrodsky & Long, P.A. as Co-Lead Counsel in In re Access to Money, Inc. Shareholders Litigation, Consol. C.A. No. 6816-VCN.

The class action was commenced on behalf of the public shareholders of Access to Money, Inc. (“Access to Money” or the “Company”) against Access to Money and its Board of Directors (the “Board” or the “Individual Defendants”), to enjoin a proposed transaction announced on August 15, 2011 (the “Proposed Transaction”), pursuant to which Access to Money will be acquired by Cardtronics USA, Inc. and its wholly-owned subsidiary, CATM Merger Sub, Inc. (collectively, “Cardtronics”).  On or around August 15, 2011, the Board caused Access to Money to enter into an agreement and plan of merger (the “Merger Agreement”) to be acquired by Cardtronics in an all-cash transaction valued at approximately $21.2 million, inclusive of debt repayment.

The class action alleged that the Proposed Transaction was the product of a flawed process that resulted from the Board’s failure to maximize shareholder value and deprived Access to Money’s public shareholders of the ability to participate in the Company’s long-term prospects.  Plaintiffs’ sought to enjoin the Proposed Transaction or, alternatively, rescind the Proposed Transaction in the event the defendants are able to consummate it.

In addition, on August 29, 2011, the Company filed a Preliminary Proxy Statement on Form DEFM14A with the United States Securities and Exchange Commission (“SEC”) (the “Preliminary Proxy”) in connection with the Proposed Transaction. Plaintiffs alleged that the Preliminary Proxy failed to provide the Company’s shareholders with material information thereby rendering the shareholders unable to cast an informed vote regarding the Proposed Transaction.  Amongst other things, the Preliminary Proxy omitted material information with respect to the process and events leading up to the Proposed Transaction, as well as the opinion and analyses of Access to Money’s financial advisor, GuideCap Partners, LLC.