LPL
FINRA fines and censures Merrill, LPL, National Financial and Van KampenPosted by RJ and Makay on Sep 30, 2011 |
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The Financial Industry Regulatory Authority (FINRA) earlier this month fined and disciplined Merrill Lynch, LPL Financial, National Financial Services, and Van Kampen Funds. The four financial services firms were censured and fined for various violations, and FINRA ordered them to perform a number of remedial actions.
LPL launches, execs cash inPosted by RJ and Makay on Nov 19, 2010 |
On the night of 
November 17, LPL announced its initial public offering of 15,657,482 shares of its common stock, priced at $30, and on the morning of November 18th it became officially listed on the NASDAQ under the symbol LPLA. Trading officially began at 9:30 EST that morning, with LPL’s chairman and chief executive, Mark Casady, doing the honor of ringing the opening bell. Shares hit a high at midday, reaching a price of $33.84, and closed at $32.15.
The IPO comes after years of anticipation. In total, it netted $470 million for stockholders who sold at the opening price. In June, when the Broker-Dealer registered for the offering, it estimated the deal value might be as high as $600 million. None of the proceeds from the sale will go to the company.
Casady stands to make $58M from LPL stock offeringPosted by RJ and Makay on Nov 04, 2010 |
LPL Investment Holdings Inc. is setting
a maximum price of $30 per share on its initial public offering that market watchers believe will come any day now, according to a recent article posted on InvestmentNews.com. The filing was a preliminary prospectus and could be changed.
At the proposed maximum price of $30, LPL LPL Investment Holdings would have a potential market capitalization of $515 million and 107.1 million shares will be outstanding after the sale.
