Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of optionsXpress, Inc. (“optionsXpress” or the “Company”) (NasdaqGS: OXPS) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Charles Schwab Corp. (“Schwab”) (NYSE: SCHW) for approximately $1 billion in stock. The proposed transaction only offers optionsXpress shareholders 1.02 shares of Schwab in exchange for each optionsXpress share they hold, valuing the Company at approximately $18.31 a share, based on Monday’s closing price. According to Yahoo! Finance, at least financial analyst values optionsXpress at $21.00 a share.
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Whether the optionsXpress’s Board of Directors breached their fiduciary duties to optionsXpress’s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues optionsXpress’s shares and by how much this proposed transaction undervalues the Company to the detriment of optionsXpress shareholders are the key focus of this investigation.
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If you own common stock in optionsXpress and wish to obtain additional information, please visit us at
or contact Juan E. Monteverde, Esq. either via e-mail at
or by telephone at (877) 247-4292 or (212) 983-9330.
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