| | The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into Possible Breaches of Fiduciary | | Levi & Korsinsky is investigating the Board of Directors of optionsXpress Holdings, Inc. | | Posted on : NetForce Press (23 Mar., 2011) | | | |
New York, NY, March 24, 2011 -- Levi & Korsinsky is investigating the Board of Directors of optionsXpress Holdings, Inc. (“optionsXpress” or the “Company”) (NasdaqGS: OXPS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to The Charles Schwab Corporation (“Schwab”) (NYSE: SCHW). Under the terms of the transaction, optionsXpress shareholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock they own. The transaction values each optionsXpress share at $17.91, for a total transaction value of approximately $1.0 billion.
Click here to learn how to join the action: http://www.zlk.com/optionsxpress-holdings-oxps.html, or call: 877-363-5972.
The investigation concerns whether the optionsXpress Board of Directors breached their fiduciary duties to optionsXpress stockholders by failing to adequately shop the Company before entering into this transaction and whether Schwab is underpaying for optionsXpress shares, thus unlawfully harming optionsXpress stockholders. In particular, at least one analyst set a price target of $21.00 per share of optionsXpress stock and, for the most recent quarter, the Company had approximately $16.52 per share in cash, net of debt.
If you own common stock in optionsXpress and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/optionsxpress-holdings-oxps.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street - 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Toll Free: (877) 363-5972, Fax: (212) 363-7171, www.zlk.com
Contact:
Joanna Chlebus
Levi & Korsinsky, LLP
30 Broad St
15th Floor
New York, NY 10004
212-363-7500
jchlebus@zlk.com
http://www.zlk.com |
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