Jefferies Sued By Investors Over $2.6B Leucadia Merger

Law360, New York (November 14, 2012, 8:34 PM EST) -- Jeffries Group Inc. was hit with a proposed investor class action in New York state court Wednesday, alleging the investment bank's board members used its $2.6 billion sale to holding company Leucadia National Corp. to enrich themselves without considering the interests of stockholders.

According to the suit, filed by Jeffries shareholder Howard Lasker Ira, the deal fails to maximize shareholder value or allow shareholders to enjoy the results of New York-based Jeffries’ favorable long-term prospects; instead, it unfairly benefits Leucadia and Jeffries’ board of directors and...
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