Tripp Levy PLLC, a leading securites and shareholder rights law firm, is investigating the Board of Directors of Investors Capital Holdings, Ltd. (“ICH” or the “Company”) (NYSE MKT:ICH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to RCS Capital Corp. (NYSE:RCAP) (“RCAP”).
Under the terms of the transaction, ICH shareholders may elect to receive $7.25 per share or a number of RCAP Class A shares “equal to the quotient of $7.25 divided by the volume weighted average trading price of a share of RCAP’s Class A common stock for the five consecutive trading days immediately preceding the closing of the Merger.” The transaction has a total approximate value of $52.5 million in cash and stock. The investigation concerns whether the ICH Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether RCAP is underpaying for ICH shares. ICH President and CEO Timothy Murphy has already agreed to tender his shares.
If you own ICH common stock and wish to obtain additional information, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy.
Tripp Levy PLLC has extensive experience in mergers and takeover and has assisted in the recovery of millions of dollars for shareholders. Attorney advertising. Prior results do not indicate a similar outcme.
Per the October 2nd announcement, RCAP is seeking to buy the company for $7.35 per share. The exclusivity period of their negotiations ends on November 15th so I'm hoping a finalized agreement would be announced sometime thereafter. If you purchased stock today and the acquisition is approved, you should have an 8-10% profit.
If you like ICH, you might like SFNS or NHLD better. Both are faster growing, have better balance sheets, less litigation problems and are less expensive looking at either enterprise value / revenue, enterprise value / earnings, enterprise value / EBIDTA or just about any other metric I can think of.
ICH is an ok value at the current price and their business should do well in the Bull market, but peers NHLD and SFNS are much better values.
Looks to be on a strong Earnings run, up trending since May 16th 2013 at $3.00 a share. Up .09 cents today on a down day because of the Fed speech.
This is what I am waiting for. Thanks for giving out this article for free.
clearly you have no idea what you are talking about. The stock is traded daily. The S-3 filing is the right way for him to retire. Do you own any of the stock?
Founder Ted Charles is selling all his shares, 3.6 mln. shares @ $5.275. Looks like the never ending stream off liabilities from his shlocky limited partnership deals has made it impossible for him to sell the company therefore its over.he wants you to buy all his stock. Do you really want to own it if he doesn't??http://www.sec.gov/Archives/edgar/data/1001871/000100187111000008/s3.htm
Yes, it is right. It is a great article. I have really got the profit from this article.
... Other RECENT stocks picks like SHZ, LULU, URZ, EMAN MGIC and so on are doing GREAT with big money making moves at M..ua.t..he(DOT)c.o.m. (without the periods)... Why not make FREE profitable investments in 2011 unlike the poor returns YOU are experience in 2010. Otherwise good luck all longs.
Let me make this clear. I have owned ICH in the past. My previous post was out of frustration. I have also sold my shares. If they cannot make a profit when their competitors are doing so---you have to expect shareholders to get upset and leave.
What's up with ICH?
Their headline increase in revenue was meant distract shareholders from seeing the 10cents a share LOSS for the quarter.
10 cents a share--and at a time when competitors like Etrade-who had so much debt from the housing market they were on the verge of bankruptcy--is reporting two quarters in a row of profit.
I do not think ICH has shareholders interests at heart. This is more of a "good-ol' boy" group of stock brokers with no clear drive to generate profit, they just collect paychecks.
Does anyone have a site to share that reports CEO's salary?