April 26, 2013 (Shareholders Foundation) - An investigation on behalf of investors in shares of LPL Financial Holdings Inc (NASDAQ:LPLA) was announced concerning whether certain LPL Financial Holdings officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns, among other things, whether certain LPL Financial Holdings officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.

LPL Financial Holdings Inc (NASDAQ:LPLA) reported that its annual Ttoal Revenue rose from over $3.47 billion in 2011 to over $3.66 billion in 2012. However, its Net Income declined from $170.38 million in 2011 to $151.92 million in 2012.

In December 2012, Massachusetts securities regulators filed a lawsuit against LPL Financial Holdings Inc in connection with its business practices regarding its sales of non-traded real estate investment trusts. In February 2013 the lawsuit settled. LPL Financial Holdings Inc is required to permit Massachusetts residents to return their non-traded real estate investment trusts to LPL Financial Holdings Inc at the original purchase price.

Shares of LPL Financial Holdings Inc (NASDAQ:LPLA) closed on April 26, 2012, at $34.50 per share.