NEW YORK--(BUSINESS WIRE)--Please replace the release dated February 17, 2011 with the following corrected version as the third graph has been changed.
The corrected release reads:
THE LAW FIRM OF WEISS & LURIE INVESTIGATES THE ACQUISITION OF LABRANCHE & CO INC.
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of LaBranche & Co Inc. (NYSE: LAB) arising from the proposed acquisition of LaBranche by Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN).
Under the terms of the transaction, shareholders will receive a fixed ratio of 0.9980 of a share of Cowen Class A common stock for each share of LaBranche common stock. Based on the February 16, 2011 closing price of the two companies, the deal values LaBranche stock at approximately $4.71 per share.
Weiss & Lurie is investigating whether LaBranche’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Notably, LaBranche stock traded above $4.71 per share as recently as May 2010. Moreover, there may be conflicts of interests as several LaBranche officers and directors have secured positions with Cowen upon the deal’s closing.
If you own LaBranche shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at infony@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer fraud, or anti-trust violations, please contact us or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud.
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