optionsXpress Holdings, Inc. Merger Litigation (Nasdaq: OXPS)
Law Office of Brodsky & Smith, LLC Announces Investigation of optionsXpress Holdings, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of optionsXpress Holdings, Inc. (“optionsXpress” or the “Company”) (Nasdaq - OXPS - News) relating to the proposed acquisition by Charles Schwab Corporation. (“Charles Schwab”).
Under the terms of the transaction, optionsXpress shareholders would receive 1.02 shares of Charles Schwab stock for each share of common stock they own. The proposed transaction values optionsXpress at approximately $17.91. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of optionsXpress by not acting in OptionsXpress shareholders' best interests in connection with the sale process to Charles Schwab. The transaction may undervalue optionsXpress as optionsXpress stock traded at $21.00 as recently as December 22, 2010 and an analyst placed a target price for optionsXpress stock at $21.00 per share.
If you own shares of optionsXpress 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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