Cases
Legg Mason, Inc.
Merger
Overview
Overview
- Date:
- 2/18/2020
- Case Caption:
- Rubin v. Legg Mason, Inc., et al.
- Stock Symbol:
- LM
- Company Name - Buyer:
- Franklin Resources, Inc.
- Stock Symbol - Buyer:
- BEN
- Status:
- Filed
- Merger Announcement Date:
- 2/18/2020
- Filing Date:
- 4/29/2020
- Court:
- U.S. District Court: Southern District of New York
On February 18, 2020 Legg Mason announced that it had signed an agreement to merge with Franklin Resources. Per the merger agreement Legg Mason stockholders will receive $50.00 in cash for each share of Legg mason common stock owned. The deal is scheduled to close in the third quarter of 2020.
Bragar Eagel & Squire is concerned that Legg Mason’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Legg Mason stockholders.
Bragar Eagel & Squire is concerned that Legg Mason’s board of directors oversaw an unfair process and ultimately agreed to an inadequate deal price. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Legg Mason stockholders.
Case Updates
Case Files
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Rubin v. Legg Mason, Inc., et al.