Hey, a good business deal wouldn't be fun without the lawyers.
In this case, the acquisition
announced today has already spurred action by two law firms.
In the first case, the law firm of Levi & Korsinsky
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.
couldn’t reach executives at Artio immediately for comment on the announcements.
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