Investigation Overview
Investigation On Behalf Of thinkorswim Group Inc (NASDAQ:SWIM) Investors Concerning Possible Breach of Fiduciary Duty by the Board of thinkorswim Group Inc In Connection With The Proposed Unfair' Acquisition Announced.
Is the price for thinkorswim Group Inc (NASDAQ:SWIM) offered by TD Ameritrade Holding Corp. unfair? According to a recent press release an investigation on behalf of thinkorswim Group Inc (NASDAQ:SWIM) investors it is. The investigation concerning potential breaches of fiduciary duty by the board of directors of thinkorswim Group Inc in connection with the proposed acquisition by TD Ameritrade Holding Corp says the prics is unfair. But is the price fair or unfair? What do the investors think? You can vote
According to the press release by a law firm the investigation focuses on possible breaches of fiduciary duty and other violations of state law by the board of directors of thinkorswim Group Inc. (Nasdaq:SWIM) arising out of their attempt to sell the Company to TD Ameritrade Holding Corp. ('Ameritrade'). Under the terms of the agreement, shareholders of thinkorswim Group Inc (NASDAQ:SWIM) will receive $3.34 cash and 0.398 shares of Ameritrade for every share they hold of thinkorswim Group Inc (NASDAQ:SWIM), approximately $5.37 per share based on TD Ameritrade closing price of $13.48 on January 7, 2009. The deal is valued at approximately $606 million. According to the investigation the transaction appears to be unfair and undervalues thinkorswim Group Inc.'s shares (NASDAQ:SWIM) given that thinkorswim Group Inc (NASDAQ:SWIM) 's shares traded at over $10.70 a share as recently as September 2008, as high as $9.45 per share as recently as October 3, 2008 and traded over $17.00 per share back in 2008.
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