Rigrodsky & Long, P.A.
, a national securities firm with offices in Delaware and New York, announces that it is investigating potential claims against the board of directors of The Edelman Financial Group, Inc. (“Edelman” or the “Company”) (NASDAQ GS:
). The investigation concerns possible breaches of fiduciary duty and other violations of law related to Lee Equity Partners LLC’s (“Lee”) agreement to take the company private in a deal valued at about $258 million.
Under the terms of the merger agreement, public shareholders of Edelman will receive $8.85 per share in cash for each share of Edelman they own. In addition, Edelman Co-CEOs Ric Edelman, George Ball, and other members of Edelman’s senior management team will continue in their roles after purchase, and are to maintain “significant equity investment” in Edelman. Simultaneously with closing, Mr. Edelman will be selling his 24% direct interest in Edelman Financial Center, a 76%-owned subsidiary of Edelman, to an affiliate of Lee. The transaction is anticipated to close in the third quarter of 2012.
The investigation concerns whether Edelman’s board of directors failed to adequately shop the Company and obtain the best price possible for Edelman’s shareholders before entering into an agreement with Lee.
If you own the common stock of Edelman and purchased your shares before April 16, 2012, 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
Scott J. Farrell, Esquire
or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to
, or at:
Rigrodsky & Long, P.A.
, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation
, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
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