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Waddell & Reed Financial, Inc.

Merger

  • Date:
  • 12/3/2020
  • Company Name:
  • Waddell & Reed Financial, Inc.
  • Stock Symbol:
  • WDR
  • Company Name - Buyer:
  • Macquarie Group Limited
  • Status:
  • Investigating
  • Merger Announcement Date:
  • 12/2/2020

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NEW YORK, December 3, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Waddell & Reed Financial, Inc. (NYSE: WDR) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Macquarie Group Limited.
 

On December 2, 2020, Waddell & Reed announced that it had signed an agreement to be acquired by Macquarie for approximately $1.7 billion.  Pursuant to the merger agreement, Waddell & Reed stockholders will receive $25 in cash for each share of Waddell & Reed common stock owned.  The deal is scheduled to close in mid-2021.

Bragar Eagel & Squire is concerned that Waddell & Reed’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement.  Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Waddell & Reed’s stockholders.

The individual or institution below (“Plaintiff”) has reviewed and agrees to the Bragar Eagel & Squire, P.C. (“BESPC”) retainer agreement and authorizes BESPC to prosecute an action on Plaintiff’s behalf under the federal securities laws or applicable state laws to recover damages on behalf of investors in Waddell & Reed Financial. BESPC will prosecute the action on a full contingency basis and will forward all costs and expenses.
 

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