LaBranche & Co., Inc. Merger Litigation (NYSE: LAB)
Law Office of Brodsky & Smith, LLC Announces Investigation of LaBranche & Co., Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of LaBranche & Co., Inc. (“LaBranche” or the “Company”) (NYSE - LAB - News) relating to the proposed acquisition by Cowen Group, Inc. (“Cowen”).
Under the terms of the transaction, LaBranche shareholders would receive 0.9980 shares of Cowen Class A stock for each share of LaBranche stock they own. Based on the prior day closing price, this values LaBranche stock at approximately $4.71 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of LaBranche by not acting in LaBranche shareholders' best interests in connection with the sale process to Cowen. The transaction may undervalue LaBranche as LaBranche stock traded at $4.99 as recently as January 8, 2011 and an analyst has set a price target of $7.00 per share on LaBranche stock.
If you own shares of LaBranche stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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