Robbins Umeda LLP Announces an Investigation of KBW, Inc.

          Robbins Umeda LLP Announces an Investigation of KBW, Inc.

PR Newswire

SAN DIEGO, Nov. 5, 2012

SAN DIEGO, Nov. 5, 2012 /PRNewswire/ --Shareholder rights firm Robbins Umeda
LLP has commenced an investigation into possible breaches of fiduciary duty
and other violations of the law by members of the board of directors of KBW,
Inc. (NYSE: KBW) in connection with their efforts to sell the company to
Stifel Financial Corp. (NYSE: SF). Concerned shareholders who would like more
information about their rights and potential remedies can contact attorney
Gregory E. Del Gaizo at (800) 350-6003,, or via the
shareholder information form on the firm's website.


On November 5, 2012, KBW and Stifel announced that they had entered into a
definitive merger agreement under which KBW will be acquired by Stifel.
According to the terms of the deal, Stifel will acquire KBW through a
cash-and-stock transaction with a total value in excess of $575 million. KBW
shareholders will receive $17.50 per share, comprised of $10.00 per share in
cash and $7.50 per share in Stifel common stock. The $17.50 per share offer
price represents a premium of only 7.4% based on KBW's closing price on
November 2, 2012, the last trading day prior to the announcement of the
merger. As recently as September 24, 2012, KBW traded over the offer price,
trading at $17.69. Multiple analysts have set price targets higher than the
$17.50 offer price with at least one analyst from Sidoti & Company setting a
price target for KBW stock at $22.00 per share. The acquisition has already
been approved by the board of directors of both companies.

Robbins Umeda LLP's investigation focuses on whether the board of directors at
KBW is undertaking a fair process to obtain maximum value and adequately
compensate its shareholders, or seeking to benefit themselves. Notably,
following the completion of the merger, KBW's President and Chief Executive
Officer Thomas Michaud will join Stifel's board and management team and will
remain Chief Executive Officer of the KBW business unit. Given the small
premium and the continued position of the Company's CEO at the post
acquisition company, Robbins Umeda LLP is examining the board of directors'
decision to sell KBW now rather than allow shareholders to continue to
participate in the company's continued success and future growth prospects.

Robbins Umeda LLP attorneys highlight that KBW shareholders have the option to
file a class action lawsuit against the company to secure the best possible
price for the company's shareholders and the disclosure of material
information to shareholders so they can vote on the transaction in an informed

Robbins Umeda LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. For more information, please go

Press release link:

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Robbins Umeda LLP
Gregory E. Del Gaizo
(619) 525-3990 or Toll Free (800) 350-6003

SOURCE Robbins Umeda LLP

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