NEW YORK, Nov. 4, 2013 /PRNewswire/ -- Levi & Korsinsky
is investigating the Board of Directors of Investors Capital
Holdings, Ltd. ("ICH" or the "Company") (NYSE MKT: ICH) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of the Company to RCS Capital Corp.
(NYSE: RCAP) ("RCAP").
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Click here to learn more about the investigation
http://zlk.9nl.com/investors-capital-holdings-ich/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, ICH shareholders may elect
to receive $7.25 per share or a
number of RCAP Class A shares "equal to the quotient of
$7.25 divided by the volume weighted
average trading price of a share of RCAP's Class A common stock for
the five consecutive trading days immediately preceding the closing
of the Merger." The transaction has a total approximate value of
$52.5 million in cash and stock. The
investigation concerns whether the ICH Board of Directors breached
their fiduciary duties to stockholders by failing to adequately
shop the Company before agreeing to enter into this transaction,
and whether RCAP is underpaying for ICH shares. ICH President and
CEO Timothy Murphy has already
agreed to tender his shares.
If you own ICH common stock and wish to obtain additional
information, please contact Joseph E. Levi,
Esq. either via email at jlevi@zlk.com or by telephone at
(212) 363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/investors-capital-holdings-ich/.
Levi & Korsinsky is a national firm with offices in
New York, New Jersey, Connecticut 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. 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: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP
