Ladenburg Thalmann Financial Services Inc.

Practice Area: 
Stock Symbol: 
LTS
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating Ladenburg (NYSE: LTS) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of Ladenburg to Advisor Group.

Ademi & O’Reilly, LLP alleges Ladenburg’s financial outlook is improving and yet shareholders will receive only $3.50 per share with the total enterprise value of the transaction at approximately $1.3 billion, taking into account Ladenburg's common stock, preferred stock and outstanding debt. The merger agreement unreasonably limits competing bids for Ladenburg by prohibiting solicitation of further bids, and imposing a termination penalty if Ladenburg accepts a superior bid. Ladenburg insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Ladenburg’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Ladenburg.