Levi & Korsinsky is investigating the Board of Directors of The Edelman Financial Group (“TEFG” or the “Company”) (Nasdaq: EF) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to affiliates of Lee Equity Partners, LLC. Under the terms of the agreement, TEFG shareholders will receive $8.85 per share of TEFG stock they own.
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The investigation concerns, among other things, whether the consideration to be paid to TEFG shareholders is unfair, inadequate, and substantially below the fair or inherent value of TEFG, and whether the Board of Directors is acting in its own interests, rather than in the interests of shareholders. TEFG Co-Chief Executive Officers Ric Edelman and George Ball, and other members of Edelman’s senior management team, who own 26% of the Company’s shares, will maintain a significant equity investment in TEFG. Upon the closing of the transaction, Mr. Edelman will also sell his 24% direct interest in The Edelman Financial Center, LLC to an affiliate of Lee Equity Partners.
If you own common stock in TEFG and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at
or by telephone at (212) 363-7500, toll-free: (877) 363-5972,
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.