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Tuesday, January 20, 2015

Leucadia in $70 million settlement over Jefferies purchase, (NYSE: LUK)

Leucadia National Corp officers and directors have agreed to a $70 million settlement to resolve a lawsuit claiming that executives had conflicts of interest that tainted the company's November 2012 agreement to purchase Jefferies Group Inc. The settlement was announced on Tuesday by lawyers for former Jefferies shareholders. They claimed that the merger undervalued the investment banking and securities firm, and gave Jefferies shareholders too low a stake in the combined company.

Leucadia National Corporation is a diversified holding company. Shares of LUK traded higher by 0.82% or $0.18/share to $22.02. In the past year, the shares have traded as low as $20.96 and as high as $28.72. On average, 1987680 shares of LUK exchange hands on a given day and today's volume is recorded at 1201444.