NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Investors Capital Holdings, Ltd. ("ICH" or the "Company") (NYSE MKT: ICH) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to RCS Capital Corp. (NYSE: RCAP) ("RCAP").
Click here to learn more about the investigation http://zlk.9nl.com/investors-capital-holdings-ich/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, ICH shareholders may elect to receive $7.25 per share or a number of RCAP Class A shares "equal to the quotient of $7.25 divided by the volume weighted average trading price of a share of RCAP's Class A common stock for the five consecutive trading days immediately preceding the closing of the Merger." The transaction has a total approximate value of $52.5 million in cash and stock. The investigation concerns whether the ICH Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether RCAP is underpaying for ICH shares. ICH President and CEO Timothy Murphy has already agreed to tender his shares.
If you own ICH common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/investors-capital-holdings-ich/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
SOURCE Levi & Korsinsky, LLP