The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of LaBranche ...
19 February 2011 - 3:41AM
Business Wire
The Law Office of Abe Shainberg 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 transaction,
LaBranche stockholders will receive 0.9980 shares of Cowen stock
for each LaBranche share they own. The transaction values LaBranche
stock at $4.71 per share, based on the prior day closing prices,
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 Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/labranche-company.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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