This is a good marriage, I've been following both since the Sean Egan incident.
Not sure the lawsuit is going to have the effect we want though. Based on tax changes for 2013, we actually want this to hurry up and move. I was kind of amazed that they were planning the merger/buyout for 2013.
JEF fair value has been more than $16 for the entire year, but it's hard to argue more, when the entire industry is at the same valuation levels.
I see more value in the final product of the 2 companies merger, than any additional PPS the lawsuit may result in.
Two great companies that have cleaned their sheets, and have synergies that will make it a true competitor moving forward.
I think it's a shame for JEF shareholders. We'll probably get $17 a share if we are lucky. Handler wanted LUK to steal the company cheap because he will be the CEO of LUK after the merger. It's a conflict of interest big time. Handler was just criticized for raping Jefferies with outrageous salaries, now he pulls this? This guy has no conscience. I usually don't join class action suits, but I will here. This is greed at it's finest.
Handler could care less about the small shareholders in Jefferies. This is all about him!