Business & Finance
Business and Finance
Business and Finance
Thu, April 21, 2011 Rigrodsky & Long, P.A. Investigates Buyout of TradeStation Group, Inc. - TRAD
WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of TradeStation Group, Inc. (aTradeStationa or the aCompanya) (Nasdaq: [ TRAD ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Monex Group, Inc. (aMonexa) in a transaction valued at approximately $411 million. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/TradeStationGroupInc-TRAD ].
Under the proposed agreement, Monex will commence a tender offer for all of the outstanding shares of TradeStation for $9.75 per share in cash.
The investigation concerns whether TradeStationa™s board of directors failed to adequately shop the Company and obtain the best price possible for TradeStationa™s shareholders before entering into the agreement with Monex.
On February 11, 2011, TradeStation announced its 2010 fourth quarter financial results wherein the Companya™s CFO, David Fleischman, commented: aAt the 2010 year end, our client assets were at an all-time high, average client margin balances had increased 40% since the 2009 fourth quarter, we had cash and cash equivalents and marketable securities of $105.1 million, no debt, total shareholdersa™ equity of $173.4 million, and had produced positive net income for the 35th consecutive quarter[.] With interest rates having only one direction to move, and the implementation of our new growth initiatives, we remain excited about our prospects for long-term earnings growth.a
If you own the common stock of TradeStation and purchased your shares before April 21, 2011, 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 [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].
[ Rigrodsky & Long, P.A. ], with offices in Wilmington, Delaware and Garden City, New York, regularly litigates [ securities class, derivative and direct actions, shareholder rights litigation ] and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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