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Rating:The Artio Deal Spurs Two Law Firms To Action Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, February 14, 2013

The Artio Deal Spurs Two Law Firms To Action

Reported by Tommy Fernandez

Hey, a good business deal wouldn't be fun without the lawyers.

In this case, the acquisition of Artio by Aberdeen announced today has already spurred action by two law firms.

In the first case, the law firm of Levi & Korsinsky has launched an investigation into “possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Aberdeen Asset Management PLC.”

In particular, the investigation will look into “whether the Artio Global Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before entering into this transaction and whether Aberdeen Asset Management PLC is underpaying for Artio Global shares, thus unlawfully harming Artio Global stockholders.”

Meanwhile, the law firm of Glancy Binkow and Goldberg has has launched its own lawsuit into the matter, with similar goals.

MFWire couldn’t reach executives at Artio immediately for comment on the announcements.  

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