NEW YORK, Feb. 20, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Legg Mason, Inc. ("LM" or the "Company") (NYSE:
LM) in connection with the proposed acquisition of the Franklin
Resources, Inc. ("Franklin Resources") (NYSE: BEN). Under the
terms of the acquisition agreement, LM shareholders will receive
$50 per share in cash. The deal
is scheduled to close by the third quarter of 2020.
If you own LM shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, visit our website:
http://www.weisslawllp.com/legg-mason-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether LM's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, the Company reported adjusted net income
of $93.2 million, representing growth
of $16.9 million or approximately 18%
when compared to $76.3 million
reported in the same quarter last year.
Additionally, according to Franklin Resources' Executive
Chairman, "[t]his is a landmark acquisition for our organization
that unlocks substantial value and growth opportunities driven by
greater scale, diversity and balance across investment strategies,
distribution channels and geographies."
Given these facts, WeissLaw is concerned whether the proposed
acquisition agreement undervalues the Company, whether the Board
ran a fair process, and whether all material information related to
the proposed acquisition is 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
stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP