The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of LaBranche ...
23 February 2011 - 2:19AM
Business Wire
The Law Offices of Vincent Wong are 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 deal, LaBranche stockholders
will receive 0.9980 shares of Cowen stock for each LaBranche share
they own. 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 Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/labranche.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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