E*TRADE Financial Corporation (ETFC)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of E*TRADE Financial Corporation (ETFC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims against the Board of Directors of E*TRADE Financial Corporation (E*TRADE " or "the Company") (NASDAQ: ETFC) for possible breaches of fiduciary duty in connection with the proposed sale of the Company to Morgan Stanley (NYSE: MS).
On February 20, 2020, E*TRADE revealed they have entered into a definitive merger agreement, in which Morgan Stanley will acquire E*TRADE. Under terms of the transaction, E*TRADE shareholders will receive only 1.0432 Morgan Stanley share for each share of E*TRADE stock they own, which represents per share consideration of $58.74 based on the closing price of Morgan Stanley's common stock on February 19, 2020. Nevertheless, stockholders will be subject to the future price fluctuation of Morgan Stanley's stock price. The investigation concerns whether E*TRADE’s board breached their fiduciary duties to shareholders and whether Morgan Stanley is underpaying for the Company.
If you are an E*TRADE shareholder and believe the proposed buyout price is too low, you can learn more about the investigation by contacting Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.