The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of LaBranche & Co., Inc. in ...
18 February 2011 - 9:37AM
Business Wire
The Law Office of Joseph Klein is investigating the Board of
Directors of LaBranche & Co., Inc. (NYSE: LAB) for possible
breaches of fiduciary duty and other violations of state law in
connection with the sale of the Company to Cowen Group, Inc.
(Nasdaq: COWN). Under the terms of the proposed deal, each
LaBranche share will be converted to 0.9980 shares of Cowen Class A
stock. Based on the prior day closing prices, the transaction
values LaBranche stock at $4.71 per share for a total transaction
value of approximately $192.8 million.
The investigation concerns whether the LaBranche Board of
Directors breached their fiduciary duties to LaBranche stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Cowen Group is underpaying for LaBranche
shares.
If you own common stock in LaBranche and wish to obtain
additional information, please contact Joseph Klein, Esq. directly,
via email at jk@jkleinlawfirm.com, by telephone at 718-947-0005,
Toll Free: 877-STOK-180, or visit
http://www.jkleinlawfirm.com/labranche-lab.html.
Joseph Klein, Esq. is an experienced attorney and has also
practiced as a Certified Public Accountant. Mr. Klein represents
investors and participates in securities litigations involving
financial fraud throughout the nation. Attorney advertising. Prior
results do not guarantee similar outcomes.
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