BALA CYNWYD, Pa., July 6, 2009 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of FCStone Group, Inc. ("FCStone" or the "Company") (Nasdaq:FCSX) relating to the proposed merger with International Assets Holding Corp. ("IAHC") (Nasdaq:IAAC).
Under the proposed agreement, FCStone's stockholders will receive 0.2950 shares of International Assets' common stock for each share of FCStone common stock they own. It is anticipated that IAHC's current stockholders will own approximately 52.5 percent of IAHC following the merger and FCStone's current stockholders will own the remaining approximately 47.5 percent. Based on IAHC's July 1, 2009 closing price of $15.74, FCStone shares were originally valued at $4.64 for this transaction. The investigation concerns possible breaches of fiduciary duty and other violations of state law related to the FCStone's board's approval of the proposed merger. In October 2008, FCStone shares were trading at over $18.30 and as recently as June 2009 the shares were trading at $5.30, both substantially higher than the current offer. Moreover, the day after the deal was announced, IAHC closed at $13.93, reducing the value of the deal to FCStone shareholders to approximately $4.10 per share.
If you own shares of FCStone and wish to discuss the legal ramifications of the proposed acquisition by IAHC, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at clients@brodsky-smith.com, or by calling toll free 877-LEGAL-90.