The Law Firm Of Weiss & Lurie Investigates The Acquisition Of OptionsXpress Holdings, Inc.
Weiss & Lurie, a national class action and shareholder rights law firm
with offices in New York City and Los Angeles, is investigating possible
breaches of fiduciary duty and other violations of law by the Board of
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of optionsXpress Holdings, Inc. (NasdaqGS: OXPS) arising from its proposed acquisition by Charles Schwab Corporation (NYSE: SCHW). Under the terms of the merger agreement, optionsXpress stockholders will receive 1.02 shares of Schwab stock for each share of optionsXpress. Based on Schwab’s closing stock price as of March 18, 2011, the transaction values each optionsXpress share at $17.91. The acquisition is expected to close during the third quarter of 2011, subject to optionsXpress stockholder approval and regulatory approvals. Stockholders affiliated with James Gray, the Chairman of optionsXpress’ Board, holding nearly 23% of the Company’s stock, have entered into an agreement to vote their shares in favor of the transaction. Weiss & Lurie is investigating whether optionsXpress’ Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Prior to the announcement of the deal, at least one analyst set a price target of $21 for optionsXpress stock. If you own optionsXpress shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771. Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals, and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.
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%).