NEW YORK, Dec. 3, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Waddell & Reed Financial, Inc. ("WDR" or the "Company") (NYSE: WDR) in connection with the proposed acquisition of the Company by Macquarie Asset Management ("Macquarie"), the asset management division of Macquarie Group Limited. Under the terms of the acquisition agreement, the Company's shareholders will receive $25.00 in cash for each share of WDR common stock that they hold. Upon completion of the proposed transaction, Macquarie will sell WDR's wealth management platform to LPL Financial Holdings Inc. ("LPL") and the two firms will enter into a long-term partnership, with Macquarie becoming one of LPL's top tier strategic asset management partners.
If you own WDR shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Joshua Rubin, Esq. WeissLaw LLP 1500 Broadway, 16th Floor New York, NY 10036 (212) 682-3025 (888) 593-4771 [email protected]
WeissLaw is investigating whether (i) WDR's board of directors acted in the best interests of the Company's shareholders in agreeing to the proposed transaction, (ii) the $25.00 per-share merger consideration adequately compensates WDR's shareholders; and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]