Business & Finance
Business and Finance
Business and Finance
Tue, February 22, 2011 The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of LaBranche &
NEW YORK--([ 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.
