NEW YORK, Sept. 1, 2016 /PRNewswire/ -- Purcell Julie
& Lefkowitz LLP, a class action law firm dedicated to
representing shareholders nationwide, is investigating a potential
breach of fiduciary duty claim involving the board of directors of
LPL Financial Holdings Inc. (NASDAQ: LPLA).
On December 10, 2015, LPL
Financial announced the early completion of its accelerated share
repurchase program. TPG Capital sold 4.3 million shares of
LPL Financial common stock at $43.27
per share for approximately $187
million in proceeds. Then on February 11, 2016, LPL Financial announced its
fourth quarter and full year 2015 financial results, including
adjusted earnings per share of $0.37
per share, well below consensus analyst estimates of $0.51 per share. The Company also revealed
disappointing revenues, primarily as a result of dramatically lower
commission revenues and revenues from alternative investments, as
well as higher-than-expected expenses for the quarter. As a
result of this news, the price of LPL Financial common stock
dropped $8.76 per share to close at
$16.50 per share on February 12, 2016, a one-day decline of nearly
35%.
If you are a shareholder of LPL Financial and are interested in
obtaining additional information regarding this investigation, free
of charge, please visit us at:
http://pjlfirm.com/lpl-financial-holdings-inc/
You may also contact Robert H.
Lefkowitz, Esq. either via email at rl@pjlfirm.com or by
telephone at 212-725-1000. One of our attorneys will
personally speak with you about the case at no cost or
obligation.
Purcell Julie & Lefkowitz LLP is a law firm exclusively
committed to representing shareholders nationwide who are victims
of securities fraud, breaches of fiduciary duty and other types of
corporate misconduct. For more information about the firm and its
attorneys, please visit http://pjlfirm.com. Attorney
advertising. Prior results do not guarantee a similar outcome.
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SOURCE Purcell Julie & Lefkowitz LLP