Harwood Feffer LLP Announces Investigation of A.C. Moore Arts & Crafts, Inc.

Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of A.C. Moore Arts & Crafts, Inc. (“A.C. Moore” or the “Company”) (NASDAQ: ACMR) concerning the proposed acquisition of the Company by an affiliate of Sbar’s Inc. (“Sbar’s”).

On October 4, 2011, A.C. Moore announced it had entered into a definitive agreement pursuant to which the Company would be acquired by Sbar’s. Under the terms of the agreement, A.C. Moore stockholders will receive $1.60 in cash for each share of Company stock held. A.C. Moore stock has traded as high as $3.40 per share in the last year and $2.44 per share as recently as July 6, 2011. According to Yahoo Finance, the median analyst target price for the stock is $2.50 and at least one analyst has set a target price of $3.00 per share.

Our investigation concerns whether the board of directors has breached its fiduciary duties by failing to adequately shop the Company and whether the board undertook a fair process and obtained fair consideration for A.C. Moore stockholders.

Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.

If you own A.C. Moore shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Robert I. Harwood, Esq.Peter W. Overs, Jr., Esq.Benjamin Sachs-MichaelsHarwood Feffer LLP488 Madison AvenueNew York, New York 10022Phone Numbers: [phone](212)935-7400Email: [e-mail]@[e-mail]: http://www.hfesq.com

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