Business & Finance
Business and Finance
Business and Finance
Fri, February 18, 2011
Thu, February 17, 2011 The Law Office of Joseph Klein is Investigating Possible Breaches of Fiduciary Duty by the Board of LaBranche & Co., Inc. in Co
NEW YORK--([ 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.
