Robbins Umeda LLP Announces an Investigation of Jefferies Group, Inc.

    Robbins Umeda LLP Announces an Investigation of Jefferies Group, Inc.

PR Newswire

SAN DIEGO, Nov. 13, 2012

SAN DIEGO, Nov. 13, 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
Jefferies Group, Inc. (NYSE: JEF) in connection with their efforts to sell the
company to Leucadia National Corporation (NYSE: LUK). 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


On November 12, 2012, Jefferies and Leucadia announced that they had entered
into a definitive merger agreement under which Leucadia will acquire Jefferies
through a stock-for-stock transaction. The total value of the deal is
approximately $2.56 billion based on Jefferies's closing stock price on
November 9, 2012. Robbins Umeda LLP's investigation focuses on whether the
members of the board of directors of Jefferies are undertaking a fair process
to obtain the maximum value possible for shareholders, or, instead, seeking to
benefit themselves. Under the terms of the deal, holders of Jefferies common
stock will receive Leucadia stock valued at $17.66 for each share they own.
The $17.66 per share offer price represents a premium of only 23.7% based on
Jefferies's closing price on November 9, 2012. As recently as April 10, 2012,
Jefferies traded above the offer price at $18.00 per share. At least one
analyst from JMP Securities has set a price target for Jefferies of $19.00 per
share. Jefferies stockholders will receive 0.81 of a share of Leucadia common
stock for each share of Jefferies common stock.

Further, following the completion of the merger, Jefferies's Chief Executive
Officer Richard Handler will become the Chief Executive Officer of Leucadia,
as well as one of its directors, and will also remain Jefferies's Chief
Executive Officer and Chairman; Jefferies's Chairman of the Executive
Committee, Brian Friedman, will become Leucadia's President and one of its
directors, and will also remain Chairman of the Executive Committee of
Jefferies. In addition, upon the closing of the transaction, four members of
the board of directors of Jefferies will join the Leucadia board of
directors. Further, on September 20, 2012, Jefferies reported its results for
the third quarter of 2012. For the quarter, the company reported net revenue
of $739 million for the third quarter of 2012, a 45% increase over the
company's net revenue of $509 million for the same quarter a year ago. Given
these financial results, Robbins Umeda LLP is examining the board of
directors' decision to sell Jefferies now rather than allow shareholders to
continue to participate in the company's continued success and future growth

Robbins Umeda LLP attorneys highlight that Jefferies 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:

Attorney Advertising.Past results do not guarantee a similar outcome.

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

SOURCE Robbins Umeda LLP

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