Le Lézard
Classified in: Business
Subjects: TNM, ATY

SHAREHOLDER ALERT: WeissLaw LLP Investigates E*TRADE Financial Corporation


NEW YORK, Feb. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of E*TRADE Financial Corporation ("ETFC" or the "Company") (NASDAQ: ETFC) in connection with the proposed acquisition of the Company by Morgan Stanley ("MS") (NYSE: MS).  Under the terms of the acquisition agreement, ETFC shareholders will receive 1.0432 shares of MS for each ETFC share they own.  This represents consideration of $58.74 based on the closing price of MS on February 19, 2020.  The transaction is expected to close in the fourth quarter of 2020.

WeissLaw LLP (PRNewsfoto/WeissLaw LLP)

If you own ETFC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

http://www.weisslawllp.com/e-trade-financial-corporation/

Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

WeissLaw is investigating whether ETFC's Board acted to maximize shareholder value prior to entering into the acquisition agreement.  At least one analyst set a target price of $62.00, or $3.26 above the per-share consideration. 

In addition, the transaction is anticipated to "significantly increase the scale and breadth of [MS]'s Wealth Management franchise, and positions [MS] to be an industry leader in Wealth Management across all channels and wealth segments."

Given these facts, WeissLaw is concerned whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.

WeissLaw LLP 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 clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

SOURCE WeissLaw LLP


These press releases may also interest you

at 13:00
Public health has confirmed that two inmates have tested positive for COVID-19 at Port-Cartier Institution in Quebec, a maximum-security facility. These are the first confirmed cases related to inmates in a federal correctional institution. Prior to...

at 12:48
Texas Mutual Insurance Company, the state's leading provider of workers' compensation insurance, today announced a donation of $2 million in grant funding for nonprofit organizations across the state that are vital to COVID-19 relief and recovery....

at 12:45
Junshi Biosciences (HKEX: 1877), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development and commercialization of novel therapies, announced its audited consolidated annual results of the Company and its...

at 12:40
Cooper's Hawk Vineyards and Restaurants (CHV), a boutique winery nestled in southwestern Ontario, is leading the pack when it comes to embracing the new virtual reality that is facing wineries and doing it in record time, something that should...

at 12:40
American Finance Trust, Inc. ("AFIN" or the "Company") announced today that its Board of Directors approved a reduction in the Company's annualized dividend to $0.85 per share from $1.10 per share due to the uncertain and rapidly changing...

at 12:37
Grupo IDESA, S.A. de C.V. (the "Company") today announced that it has issued a supplement (the "Supplement") to amend the Offering Memorandum dated March 23, 2020 (the "Offering Memorandum") to clarify information about the proposed collateral...



News published on 21 february 2020 at 15:10 and distributed by: