Briscoe Law Firm Investigates TradeStation Group Inc. for Shareholders Concerning Acquisition by Monex Group, Inc.
April 22 2011 - 11:33AM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the securities litigation law firm of
Powers Taylor, LLP are investigating potential legal claims against
the Board of Directors of TradeStation Group Inc. (“TradeStation”
or “TRAD”) (NASDAQ: TRAD) related to the proposed buyout of
TradeStation by a subsidiary of Monex Group, Inc.
The definitive merger agreement, which was announced on April
21, 2011, involves an all cash transaction valued at approximately
$411 million. Under the proposed buyout, TradeStation shareholders
will receive $9.75 in cash for each share of TradeStation/TRAD
common stock they hold through a tender offer by May 10, 2011. The
transaction is expected to close in the third quarter of 2011.
The firms are investigating the fairness of the proposed
transaction to TradeStation shareholders and whether TradeStation’s
Board of Directors acted in the shareholders’ best interests.
Although the acquisition price represents an approximate 39%
premium over TradeStation’s closing price the day before the
announcement, at least one analyst has set a target price of $10.00
per share for the company. In addition, over the past six months
the price of TradeStation shares has increased over 40%. Based on
these and other factors, the firms are investigating whether the
price offered to TradeStation shareholders is adequate. The firms
are also investigating whether TradeStation’s Board of Directors
adequately considered all viable alternatives and properly shopped
the company before entering into the acquisition agreement.
If you currently own shares of TradeStation Group/TRAD and would
like additional information regarding this investigation, or if you
have information regarding the allegations involved in this
transaction, please contact Patrick Powers at Powers Taylor, LLP,
toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com,
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is
no cost or fee to you.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation law firm that
handles a variety of complex business litigation matters
nationwide, including claims of investor and stockholder fraud,
shareholder oppression, shareholder derivative suits, and security
class actions.
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