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The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of LaBranche &

^{Published on 2011-02-18 08:51:09 - Market Wire}
 

NEW YORK--([ 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.