Rigrodsky & Long, P.A. Announces Investigation of The Edelman Financial Group Inc. Going Private Transaction By Lee Equity Pa...
16 Avril 2012 - 5:28PM
Business Wire
Rigrodsky & Long, P.A., a national securities firm with
offices in Delaware and New York, announces that it is
investigating potential claims against the board of directors of
The Edelman Financial Group, Inc. (“Edelman” or the “Company”)
(NASDAQ GS: EF). The investigation concerns possible breaches of
fiduciary duty and other violations of law related to Lee Equity
Partners LLC’s (“Lee”) agreement to take the company private in a
deal valued at about $258 million.
Under the terms of the merger agreement, public shareholders of
Edelman will receive $8.85 per share in cash for each share of
Edelman they own. In addition, Edelman Co-CEOs Ric Edelman, George
Ball, and other members of Edelman’s senior management team will
continue in their roles after purchase, and are to maintain
“significant equity investment” in Edelman. Simultaneously with
closing, Mr. Edelman will be selling his 24% direct interest in
Edelman Financial Center, a 76%-owned subsidiary of Edelman, to an
affiliate of Lee. The transaction is anticipated to close in the
third quarter of 2012.
The investigation concerns whether Edelman’s board of directors
failed to adequately shop the Company and obtain the best price
possible for Edelman’s shareholders before entering into an
agreement with Lee.
If you own the common stock of Edelman and purchased your shares
before April 16, 2012, 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
Scott J. Farrell, Esquire or Peter Allocco of Rigrodsky & Long,
P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York
11530 toll free at (888) 969-4242, by e-mail to
info@rigrodskylong.com, or at:
http://www.rigrodskylong.com/investigations/the-edelman-financial-group-inc-ef.
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.
Attorney advertising. Prior results do not guarantee a similar
outcome.
Edelman Financial Grp. Inc. (The) (MM) (NASDAQ:EF)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024
Edelman Financial Grp. Inc. (The) (MM) (NASDAQ:EF)
Graphique Historique de l'Action
De Déc 2023 à Déc 2024
