Press release
Investigation for Investors in E*TRADE Financial Corporation (NASDAQ: ETFC) over Takeover
An investigation on behalf of investors of E*TRADE Financial Corporation (NASDAQ: ETFC) in connection with the proposed takeover.
Investors who purchased shares of E*TRADE Financial Corporation (NASDAQ: ETFC) and currently hold any of those NASDAQ: ETFC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of E*TRADE Financial Corporation breached their fiduciary duties owed to NASDAQ: ETFC investors in connection with the proposed acquisition.
Arlington, VA based E*TRADE Financial Corporation, a financial services company, operates in the online brokerage industry. On February 20, 2020 Morgan Stanley (NYSE: MS) and E*TRADE Financial Corporation (NASDAQ: ETFC) have entered into a agreement under which Morgan Stanley will acquire E*TRADE in an all-stock transaction valued at approximately $13 billion. Under the terms of the agreement, E*TRADE stockholders will receive 1.0432 Morgan Stanley shares for each E*TRADE share, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley common stock on February 19, 2020.
However, given that at least one analyst has set the high target price for NASDAQ: ETFC shares at $62.00 per share, the
investigation concerns whether the offer is unfair to NASDAQ: ETFC stockholders. More specifically, the investigation concerns whether the E*TRADE Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in E*TRADE Financial Corporation (NASDAQ: ETFC) shares have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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