Glancy Binkow & Goldberg LLP Announces Investigation on Behalf of Shareholders of TradeStation Group, Inc. in Connection with...
April 29 2011 - 7:30PM
Business Wire
Glancy Binkow & Goldberg LLP announces that it is
investigating potential claims against the board of directors of
TradeStation Group, Inc. (“TradeStation” or the “Company”)
(NASDAQ:TRAD) related to the Company’s agreement to be acquired by
Monex Group, Inc. in a proposed transaction where TradeStation
shareholders will receive $9.75 in cash for each share they own of
the Company’s common stock. The transaction is valued at
approximately $411 million.
The investigation concerns whether the board of directors of
TradeStation breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. Specifically, the Company has seen substantial growth
over the past six months and its shares have increased over 40%
during the same period. Further, at least one analyst has set a
target price of $10.00 per share, virtually nullifying any premium
that TradeStation shareholders would receive under the
transaction.
The proposed transaction is structured as a cash tender offer
followed by a merger. Under the terms of the parties’ definitive
agreement, the tender offer is expected to commence by May 10, 2011
and, if the tender offer is successfully completed, the merger is
expected to close early in third-quarter 2011.
If you are a shareholder of TradeStation, 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 Michael Goldberg, Esquire, of Glancy Binkow
& Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los
Angeles, California 90067, by telephone at 310-201-9150 or Toll
Free at 888-773-9224, or by e-mail to shareholders@glancylaw.com.
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