NEW YORK, April 27, 2020 /PRNewswire/ -- Halper Sadeh LLP, a global investor rights law firm, announces the filing of a shareholder class action lawsuit against Legg Mason, Inc. (NYSE: LM) in connection with the proposed sale of Legg Mason to Franklin Resources, Inc. for $50.00 per share. The lawsuit seeks damages and/or equitable relief on behalf of Legg Mason shareholders under the federal securities laws.
If you are a Legg Mason shareholder and would like to join the action or discuss your legal rights and options, please visit Legg Mason Class Action or contact Daniel Sadeh or Zachary Halper, free of charge, at (212) 763-0060 or [email protected] or [email protected].
The lawsuit alleges that Defendants issued a materially misleading proxy statement recommending that Legg Mason shareholders vote in favor of the proposed sale of Legg Mason to Franklin Resources. According to the complaint, the proxy statement contains materially incomplete and misleading information concerning, among other things, Legg Mason's financial projections and analyses performed by Legg Mason's financial advisors.
If you wish to serve as lead plaintiff, you must move the Court no later than June 22, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you would like to join the action or discuss your legal rights and options, please visit https://halpersadeh.com/actions/legg-mason-inc-merger-stock-franklin-resources/ or contact Daniel Sadeh or Zachary Halper, free of charge, at (212) 763-0060 or [email protected] or [email protected].
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE OR YOU MAY REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT.
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SOURCE Halper Sadeh LLP