Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of LaBranche & Co Inc., in Connection with t...
February 17 2011 - 6:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
LaBranche & Co Inc. (“LaBranche” or the “Company”) (NYSE:LAB)
related to the Company’s agreement to be acquired by Cowen Group,
Inc. (“Cowen”). The proposed stock-for-stock transaction is valued
at approximately $193 million.
Under the terms of the definitive merger agreement entered into
by the parties, LaBranche shareholders will receive upon closing a
fixed ratio of 0.9980 shares of Cowen Class A common stock for each
outstanding share of LaBranche common stock. Certain executive
officers of LaBranche holding approximately 12.5% of the Company’s
outstanding shares have entered into a voting agreement with Cowen
to vote their shares in favor of the transaction. The transaction
is expected to close by the end of the second quarter or beginning
of 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 LaBranche’s board of
directors.
If you are a shareholder of LaBranche, 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.
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