NEW YORK, Jan. 17, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of Duff & Phelps ("Duff & Phelps" or the "Company") (NYSE:DUF) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with a going private proposal from a consortium that includes The Carlyle Group, Stone Point Capital LLC, Pictet & Cie and Edmond de Rothschild Group. A complaint was filed in New York state court.
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Under the terms of the proposed transaction, the consortium would acquire the outstanding shares of Duff & Phelps it does not currently own for a value of $15.55 per share. The transaction has a total approximate value of $665.5 million. The claims concern, among other things, whether the proposed consideration to be paid to Duff & Phelps shareholders is unfair, inadequate, and substantially below the fair or inherent value of Duff & Phelps. In particular, at least one analyst set a price target for Duff & Phelps stock at $24 per share.
If you own common stock in Duff & Phelps and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://zlk.9nl.com/duffandphelps-duf/.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP