Thomas Weisel Partners Group, Inc Board Under Investigation for TWPG Shareholders

If you are currently an investor in shares of Thomas Weisel Partners Group, Inc. (NASDAQ:TWPG), and purchased the shares before April 26, 2010, and / or have additional information relating to the investigation, you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Thomas Weisel Partners Group
Affected Securities: 
NASDAQ: TWPG

After the announcement an investigation on behalf of current investors of Thomas Weisel Partners Group, Inc. (NASDAQ:TWPG), who purchased the TWPG shares before April 26, 2010, over potential breaches of fiduciary duty and other violations of state law in connection with an alleged unfair takeover price and practice was announced.

The investigation by a law firm focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of Thomas Weisel Partners Group, Inc. arising out of their attempt to Thomas Weisel Partners Group, Inc. (NASDAQ:TWPG) to Stifel Financial Corp. Thomas Weisel Partners Group, Inc., located in San Francisco, California, is an investment bank focused principally on growth companies and growth investors. Thomas Weisel Partners Group, Inc. reported in 2007 Total Revenue of $299.47million, in 2008 $195.47million, and in 2009 $196.71million.

On Monday, April 26, 2010 and Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG) and Stifel Financial Corp. (NYSE: SF) announced that they have entered into a definitive agreement for a total transaction value of approximately $300 million. Under the agreement Stifel Financial Corp. will exchange each Thomas Weisel Partners Group, Inc. common share (NASDAQ: TWPG) for 0.1364 shares of Stifel Financial Corp. (NYSE: SF) common stock or at approximately $7.60 per Thomas Weisel Partners Group, Inc. (NASDAQ: TWPG) common share, based on the prior closing price of $55.74 for Stifel Financial Corp. (NYSE: SF) stock. The deal is valued at more than $300 million, which includes the outstanding shares and restricted stock units and warrants. According to Thomas Weisel Partners Group, Inc the agreement was approved by the board of directors

Shares of Thomas Weisel Partners Group, Inc. (TWPG) traded at $7.23 per share after the takeover announcement, and at $4.33 per share the trading day before the news. TWPG shares were down from $12.98 per share in 2008, and over $20 per share in 2007.

According to an investigation by a law firm the transaction appears to be unfair to current investors of Thomas Weisel Partners Group, Inc. (Public, NASDAQ:TWPG) because the “offer to purchase Thomas Weisel Partners Group, Inc. appears grossly unfair, inadequate, and substantially below the fair or inherent value of TWPG”. The investigation in particular also concerns “concerns whether the Thomas Weisel Partners Group Board of Directors breached their fiduciary duties to Thomas Weisel Partners Group, Inc. (TWPG) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breached their fiduciary duties by not seeking a deal that would provide better value of Thomas Weisel Partners Group, Inc. (TWPG), and whether Stifel Financial Corp is underpaying for Thomas Weisel Partners Group, Inc. thus unlawfully harming Thomas Weisel Partners Group, Inc. (TWPG) stockholders.”