Management Buyout of Edelman Financial Group - Shareholder Investigation by Tripp Levy PLLC on Behalf of Edelman Shareholders
NEW YORK, April 16, 2012 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities law firm, is investigating the Senior Management and the Board of Directors of The Edelman Financial Group ("Edelman" or the "Company") (Nasdaq: EF) in a going private transaction for possible breaches of fiduciary duty and other violations of state law. On April 16, 2012, Edelman announced that it has entered into a definitive merger agreement with affiliates of Lee Equity Partners, LLC, a private equity firm, to be acquired for $8.85 per share in cash.
Further, Edelman Co-Chief Executive Officers Ric Edelman and George Ball, and other members of Edelman's senior management team, who own 26% of the Company's shares, will maintain a significant equity investment in Edelman. Simultaneously with the closing of the transaction, Mr. Edelman will also be selling his 24% direct interest in The Edelman Financial Center, LLC ("EFC") to an affiliate of Lee Equity Partners.
The investigation concerns, among other things, whether the consideration to be paid to Edelman shareholders is unfair, inadequate, and substantially below the fair or inherent value of Edelman, and whether the senior management of Edelman are putting their own self-interests ahead of that of the Company's shareholders.
If you own common stock in Edelman and wish to obtain additional information, please contact us at:
Tripp Levy PLLC
Toll free: 877-772-3975
SOURCE Tripp Levy PLLC