Current shareholders of TradeStation Group, Inc. (NASDAQ: TRAD) may have potential claims against the board of directors of the company concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Monex Group, Inc. (Monex) in a transaction valued at approximately $411 million.
The proposed merger agreement states that Monex will commence a tender offer for all of the outstanding shares of TradeStation for $9.75 per share in cash.
The Possible Claims Against TradeStation
Possible claims include whether TradeStation’s board of directors failed to adequately shop the company and obtain the best price possible for TradeStation’s shareholders before entering into the agreement with Monex.
On February 11, 2011, TradeStation announced its 2010 fourth quarter financial results wherein the Company’s CFO, David Fleischman, commented: “At the 2010 year end, our client assets were at an all-time high, average client margin balances had increased 40% since the 2009 fourth quarter, we had cash and cash equivalents and marketable securities of $105.1 million, no debt, total shareholders” equity of $173.4 million, and had produced positive net income for the 35th consecutive quarter[.] With interest rates having only one direction to move, and the implementation of our new growth initiatives, we remain excited about our prospects for long-term earnings growth.”
Guiliano Law Firm
The practice of Nicholas J. Guiliano, Esq., and The Guiliano Law Firm, P.C., is limited to the representation of investors in claims for fraud in connection with the sale of securities, the sale or recommendation of excessively risky or unsuitable securities, breach of fiduciary duty, and the failure to supervise. We accept representation on a contingent fee basis, meaning there is no cost to unless we make a recovery for you, and there is never any charge for a consultation or an evaluation of your claim. If you own the common stock of TradeStation and purchased your shares before April 21, 2011, and wish to learn more about these claims, contact us at (877) SEC-ATTY