According to the Complaint, Ladenburg Thalmann Financial Services Inc. ("LTFS") is a diversified financial services company.

This action stems from a proposed transaction announced on November 11, 2019, pursuant to which LTFS will be acquired by Advisor Group Holdings, Inc.

On November 11, 2019, LTFS's Board of Directors caused the Company to enter into an agreement and plan of merger with Advisor Group. Pursuant to the terms of the Merger Agreement, LTFS's stockholders will receive $3.50 in cash for each share of LTFS common stock they own.

On December 6, 2019, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on May 15, 2020.