The Law Office Of Abe Shainberg Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of OptionsXpress Holdings, Inc. In Connection With The Sale Of The Company To The Charles Schwab Corporation – OXPS
The Law Office of Abe Shainberg is investigating the Board of Directors
of optionsXpress Holdings, Inc.
The Law Office of Abe Shainberg is investigating the Board of Directors of optionsXpress Holdings, Inc. (NasdaqGS: OXPS) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to The Charles Schwab Corporation (“Schwab”) (NYSE: SCHW). Under the terms of the proposed transaction, optionsXpress shareholders will receive 1.02 shares of Schwab stock for each share of optionsXpress stock they own. Based on the March 18, 2011 closing price of Schwab stock, the transaction values each optionsXpress share at $17.91 for a total transaction value of approximately $1.0 billion. The investigation concerns whether the optionsXpress Board of Directors breached their fiduciary duties to optionsXpress stockholders by failing to adequately shop the Company before entering into this transaction and whether Schwab is underpaying for optionsXpress shares. According to Yahoo! Finance, at least one analyst set a price target of $21.00 per share of optionsXpress stock. If you own common stock in optionsXpress and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/optionsxpress-holdings.html. Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
optionsXpress Holdings (NYSE:OXPS) is trading at unusually high volume Monday with 4.4 million shares changing hands. It is currently at 4.2 times its average daily volume and trading down 24 cents (-2%).