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Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of thinkorswim Group Inc.
NEW YORK, Jan. 8, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky, LLP is investigating breaches of fiduciary duty and other violations of state law by the board of directors of thinkorswim Group Inc. ("thinkorswim" or the "Company") (Nasdaq:SWIM) arising out of their attempt to sell the Company to TD Ameritrade Holding Corp. ("Ameritrade"). Under the terms of the agreement, shareholders of thinkorswim will receive $3.34 cash and 0.398 shares of Ameritrade for every share they hold of thinkorswim, or about $8.71 per share based on Ameritrade's closing price Wednesday of $13.48 per share. The transaction appears to be unfair and undervalues the Company's shares given that thinkorswim's shares traded as high as $9.45 per share as recently as October 3, 2008 and traded over $17.00 per share back in 2008.