BUYOUT OF JEFFRIES - LAW FIRM SEEKS MORE MONEY FOR SHAREHOLDERS
November 12, 2012
New York, New York -- Tripp Levy PLLC, a leading national securities law firm, announces that it has been retained to represent shareholders of Jeffries Group in connection with the acquisition of the company by Leucadia. Leucadia National Corp. (LUK) agreed to buy the the portion of Jefferies Group Inc. (JEF) it doesn’t already own for about $2.76 billion.
Investors will receive 0.81 Leucadia share for each Jefferies share they own, valuing Jefferies shares at $17.60 per share. Jefferies management will run the firm. Leucadia already holds about 28.6 percent of Jefferies Group Inc.
The investigation concerns whether the board of Jefferies breached their fiduciary duties to shareholders by not engaging in a full and fair auction of the company to allow shareholders to obtain the maximum value for their shares. While, at the same time, provding management with monetary benefits to enter into this deal at this price. Indeed, analysts have projected that Jefferies true value is approx. $19 per share. Further, the book value alone of Jefferies is approx. $16 per share.
If you are a shareholder of Jefferies and would like additional information concerning this matter, please contact us toll free at 877-772-3975 or email at contact @ tripplevy
Tripp Levy PLLC is a national law firm that has recovered millions of shareholders around the globe.