Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the Board of Duff & Phel
February 08 2013 - 10:56AM
Brower Piven, A Professional Corporation announces that a class
action lawsuit has been commenced in the Delaware Court of Chancery
on behalf of all shareholders of Duff & Phelps ("Duff &
Phelps" or the "Company") (NYSE:DUF).
According to the complaint, under the terms of the proposed
transaction, The Carlyle Group, Stone Point Capital, LLC, Pictet
& Cie and Edmond de Rothschild Group would acquire the
outstanding shares of Duff & Phelps it does not currently own
for a value of $15.55 per share. The transaction has a total
approximate value of $665.5 million. The claims concern, among
other things, whether the proposed consideration to be paid to Duff
& Phelps shareholders is unfair, inadequate, and substantially
below the fair or inherent value of Duff & Phelps. In
particular, at least one analyst set a price target for Duff &
Phelps stock at $24 per share.
If you own common stock in Duff & Phelps, you may obtain
additional information about this lawsuit by contacting Brower
Piven at www.browerpiven.com, by email at piven@browerpiven.com, by
calling 410/415-6701, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland
21153. Attorneys at Brower Piven have combined experience
litigating securities and class action cases of over 40 years. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6701
piven@browerpiven.com
Duff & Phelps Corp. Class A (NYSE:DUF)
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