The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Jefferies Group, Inc. (“Jefferies”) (NYSE: JEF) and other violations of state law by the board of directors of Jefferies relating to the proposed acquisition of the company by Leucadia National Corporation (“Leucadia”). The firm’s investigation seeks to determine, among other things, whether the board breached their fiduciary duties by failing to maximize shareholder value.
On November 12, 2012, Jefferies and Leucadia announced that they have entered into a definitive merger agreement providing for Leucadia to acquire Jefferies for about $2.76 billion. Under the terms of the merger agreement, Jefferies shareholders will receive 0.81 shares of Leucadia. Based upon Leucadia’s closing stock price on November 9, 2012, Jefferies shareholders would receive consideration valued at approximately $17.66 per share. However, according to Yahoo! Finance, at least one analyst has set a price target for Jefferies stock of $19.00 per share.
If you currently own shares of Jefferies and would like to learn more
about the investigation being conducted by Brower Piven, you may email
or call Brower Piven, who will, without obligation or cost to you,
attempt to answer your questions. You may contact Brower Piven by email
by calling (410) 415-6616, or at Brower Piven, A Professional
Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys
at Brower Piven have combined experience litigating securities and other
class action cases of over 60 years.
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