Search: fiduciary

More Fiduciary Duties for Stockbrokers

March 13, 2011

I’ve posted here and here about  how anyone who invests your money for you should have fiduciary duties.  The Wall Street Journal has joined the crowd with a story about how the rules are about to change: Currently, some people who provide important advice about plan investments currently aren’t held responsible for the quality of their […]

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Fiduciary Rules for Stockbrokers (Another take)

February 5, 2011

Chuck Jaffe from MarketWatch has a similar take on debate I referred to in this post. Mr. Jaffe’s article acknowledges that: For most investors, the difference between an “investment adviser” and “broker” is semantic. Both give investment advice, selling either specific investments or advice on how to structure a portfolio. And observes that: In the […]

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Spirit Realty Takeover Investigation

January 23, 2013

Salas Wang LLC, a national securities firm located in Chicago, is investigating the Board of Directors of Spirit Realty (“SRC” or the “Company”) (NYSE: SRC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Cole Capital Property Trust II in a stock-for-stock deal that values […]

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J. Alexander (JAX) Merger Claims

July 31, 2012

Salas Wang LLC is currently investigating shareholder claims for investors in J. Alexander Corporation.  Specifically, J. Alexander’s board of directors sold the company for cash, when it could have allowed shareholders to participate in the company’s future. JAX’s Board turned down a cash/stock offer in favor of the all cash option.  Salas Wang LLC is […]

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Behringer Harvard REIT Investigation Ramps Up

January 13, 2012

Salas Wang LLC was already investigating and bringing cases for investments in Behringer Harvard.  But, as the Investment News points out, Behringer Harvard is actually starting to admit that its investors lost 60% of their original investment.  Our investigation has been focused on the details of the investment that brokers aren’t telling their clients.  Specifically, […]

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Did Google Pay Enough for Motorola?

August 16, 2011

Amid the fawning over the premium that Google is paying for Motorola Mobility, it’s worth looking at the leverage that Motorola had over Google.   Obviously, Google needed Motorola for strategic purposes in connection with the Android phone. Could Motorola have gotten more money?  Could Motorola have entered into a joint venture with Google so […]

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Fight! Transatlantic Gets Sued By Bidder

August 15, 2011

Validus, which bid on Transatlantic before Warren Buffett waded into the process, sued Transatlantic for breach of fiduciary duty in connection with its negotiations with other bidders. Does a target have a fiduciary duty to a bidder?  No.  But Validus sued as a stockholder based on the shares it acquired in anticipation of a transaction (shares […]

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Berkshire’s Bid to Take Over Transatlantic is Below Book Value

August 8, 2011

Warren Buffett’s Berkshire Hathaway is bidding on Transatlantic Holdings (TRH)  in order to top bids by two insurance companies.  Buffett’s bid would still only represent a 15% premium to Transatlantic’s current price, and would still be below Transatlantic’s book value.  From the NY Times: Even at $3.2 billion, Berkshire’s offer is well below Transatlantic’s book […]

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Is the Paetec Merger Fair to Paetec’s Shareholders?

August 2, 2011

Salas Wang LLC is investigating Windstream’s buyout of Paetec (Paetec shareholders will get 0.460 of a share of Windstream for each Paetec share, or about $891 million in stock) for breaches of fiduciary duty.   The merger value represents only a 13% premium to Paetec shareholders. If you are Paetec shareholder, give us a call […]

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Jeffrey M. Salas

July 25, 2011

Jeff is one of the founding partners of Salas Wang LLC and he concentrates in the areas of securities arbitration and litigation.  He has represented clients in a variety of securities, financial fraud, corporate governance, breach of fiduciary duty, breach of contract actions in state and federal courts around the county.  Prior to founding Salas […]

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