Kendall Law Group Investigates OptionsXpress Holdings, Inc. Acquisition For Shareholders
Kendall Law Group, led by former federal judge Joe Kendall, is investigating optionsXpress Holdings, Inc. (NASQAQ: OXPS) for shareholders in connection with the proposed acquisition by the Charles Schwab Corporation. The national securities firm’s investigation seeks to determine whether optionsXpress and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are an optionsXpress shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On March 21, 2011, the companies announced the definitive merger agreement under which optionsXpress would be acquired by Schwab, in a transaction valued at approximately $1 billion. Under the terms of the agreement, optionsXpress stockholders will receive 1.02 shares of Schwab stock (NYSE: SCHW) for each share of optionsXpress/OXPS common stock held. Based on Schwab's March 18, 2011 closing stock price, the transaction values each optionsXpress share at $17.91. According to Thompson/First Call, analysts have set a price target as high as $21.00 per share for optionsXpress stock. In addition, shareholders representing 22.9% of optionsXpress stock have signed a voting agreement committing to vote their shares in favor of the transaction. The firm’s investigation seeks to determine whether optionsXpress and its Board negotiated a deal that provides the best value available to shareholders.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.
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