INVESTORS CAPITAL SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Investors Capital Holdings, Ltd. (ICH) Over the Proposed Sale of the Company to RCS Capital Corporation (RCAP)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Investors Capital Holdings, Ltd. (“Investors Capital” or the “Company”) (NYSE MKT: ICH) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to RCS Capital Corporation in a cash or stock deal valued at approximately $52.5 million. Under the terms of the proposed transaction, Holders of Investors Capital Common Stock who elect to receive cash will receive $7.25 per share of Investors Capital Common Stock. Holders of Investors Capital Common Stock who elect to receive shares of RCAP's Class A common stock will receive a number of such shares equal to the quotient of $7.25 divided by the volume weighted average trading price of a share of RCAP's Class A common stock for the five consecutive trading days immediately preceding the closing of the Merger.
The investigation focuses on whether Investors Capital Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Investors Capital shareholders.
If you own common stock in Investors Capital and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.