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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of optionsXpress Holdings, Inc., in Connection

^{Published on 2011-03-21 17:10:17 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of optionsXpress Holdings, Inc. (aoptionsXpressa or the aCompanya) (NASDAQ:OXPS) related to the Companya™s agreement to be acquired by The Charles Schwab Corporation (aSchwaba). The proposed stock-for-stock transaction is valued at approximately $1 billion.

Under the terms of the definitive agreement entered into by the parties, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each share they own of optionsXpress stock. The proposed transaction values each optionsXpress share at $17.91, based on Schwaba™s closing stock price as of March 18, 2011. Certain stockholders representing 22.9% of optionsXpress stock have signed a voting agreement committing to vote these shares in favor of the transaction. The transaction is expected to be completed during the third quarter of 2011. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by the optionsXpress board of directors.

If you are a shareholder of optionsXpress, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].