Are JHG, UDMY, FONR Obtaining Fair Deals for their Shareholders?

News Market Reaction – JHG

-0.34%

1 alert

-0.34% News Effect

On the day this news was published, JHG declined 0.34%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Cash merger price (JHG): $49.00 per share Stock-for-stock ratio (UDMY): 0.800 shares Cash merger price (FONR Class B): $19.00 per share +1 more

4 metrics

Cash merger price (JHG) $49.00 per share Sale to Trian Fund Management and General Catalyst

Stock-for-stock ratio (UDMY) 0.800 shares Coursera shares per Udemy share

Cash merger price (FONR Class B) $19.00 per share Sale of FONAR Class B common stock

Cash merger price (FONR Class C) $6.34 per share Sale of FONAR Class C common stock

Market Reality Check

Price: $51.56 Vol: Volume 3,159,061 vs 20-da...

normal vol

$51.56 Last Close

Volume Volume 3,159,061 vs 20-day average 3,540,225 (relative volume 0.89x). normal

Technical Price 50.56 is trading above 200-day MA at 44.12, near the $49.00 deal level.

Peers on Argus

JHG slipped 0.61% while peers were mixed: STEP -1.96%, OBDC -1.59%, HLNE -6.02%,...

JHG slipped 0.61% while peers were mixed: STEP -1.96%, OBDC -1.59%, HLNE -6.02%, but AMG +0.69% and BXSL +0.17%, indicating stock-specific dynamics around its buyout process and legal review.

Historical Context

5 past events · Latest: Feb 26 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Feb 26	Competing bid update	Neutral	-2.1%	Confirmed unsolicited non-binding proposal alongside existing $49.00-per-share cash merger agreement.
Feb 26	Acquisition proposal	Positive	+6.1%	Victory Capital affirmed fully financed offer valuing JHG at $57.04 per share.
Feb 19	Product launch	Positive	+0.0%	Launched AA-A CLO ETF with $100M seed capital and targeted CLO yield profile.
Jan 30	Earnings & merger update	Positive	+0.4%	Reported higher AUM, strong net inflows, and confirmed definitive Trian-led merger deal.
Jan 23	Strategic acquisition	Positive	-0.3%	Agreed to acquire Richard Bernstein Advisors with ~$20B in client assets.

Pattern Detected

Recent merger- and deal-related headlines have generally seen modest, directionally positive price reactions when terms or competitive bids appeared supportive.

Recent Company History

Over the last few months, Janus Henderson has been shaped by M&A and strategic growth moves. A definitive merger agreement at $49.00 per share and a later, fully financed competing proposal at $57.04 highlighted active bidding interest. The firm reported strong 2025 results, with rising AUM and net inflows, and launched a CLO ETF supported by a $100 million seed. It also agreed to acquire Richard Bernstein Advisors, adding roughly $20 billion of client assets. Today’s law-firm investigation centers on whether existing deal terms are fair to shareholders in this context.

Market Pulse Summary

This announcement highlights legal scrutiny of whether existing merger terms, including the $49.00-p...

Analysis

This announcement highlights legal scrutiny of whether existing merger terms, including the $49.00-per-share cash sale of Janus Henderson, adequately protect shareholder interests. It comes after months of deal activity, competing proposals, and detailed proxy filings. Investors may focus on how any investigation interacts with prior offers, board recommendations, and the planned vote. Watching future regulatory filings, deal amendments, or court developments could be important for understanding potential changes to consideration or timing.

Key Terms

federal securities laws, fiduciary duties, contingent fee, Class B common stock, +1 more

5 terms

federal securities laws regulatory

"investigating the following companies for potential violations of the federal securities laws"

Federal securities laws are the set of national rules that require companies and market participants to provide accurate information, prohibit deceptive practices, and ensure fair trading of stocks and bonds. Think of them as the rules of the road for financial markets: they help investors make informed choices by mandating disclosures and punishing fraud, which reduces risk and builds trust in the safety and reliability of investments.

fiduciary duties regulatory

"potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders"

Fiduciary duties are the legal and ethical responsibilities that company directors, officers, or financial advisors have to put shareholders’ interests ahead of their own, acting with honesty, care, and loyalty. Think of it like a guardian managing someone’s money: choices must prioritize the owner’s benefit, avoid conflicts, and be made with prudent judgment; investors rely on these duties to ensure decisions aren’t self‑serving and to provide grounds for legal action if abused.

contingent fee financial

"We would handle any matter on a contingent fee basis, whereby you would not be responsible"

A contingent fee is a payment arrangement where a party — often a lawyer, adviser or broker — gets paid only if a specified result is achieved, such as winning a case, completing a deal or recovering funds. For investors, contingent fees matter because they shift risk from the client to the service provider, can influence the timing and size of payments, and create incentives that may affect negotiation, litigation or deal strategies, similar to hiring a contractor who gets paid only when a job is finished successfully.

Class B common stock financial

"for $19.00 per share for FONAR's Class B common stock and $6.34 per share"

A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.

Class C common stock financial

"per share for FONAR's Class B common stock and $6.34 per share for FONAR's Class C common stock"

A class C common stock is a type of company share that usually represents ownership but often carries limited or no voting power compared with other share classes. For investors, that matters because it can affect influence over company decisions and sometimes the stock’s price or dividend priority — think of it as owning a ticket to the same event but in a section with less say in how the event is run.

AI-generated analysis. Not financial advice.

Insiders may stand to receive substantial financial benefits not available to ordinary shareholders.

The proposed transactions may contain terms that could limit superior competing offers.

Shareholders are encouraged to contact the firm to discuss their rights and options at no cost or obligation. We would handle any matter on a contingent fee basis, whereby you would not be responsible for out-of-pocket payment of our legal fees or expenses.

NEW YORK, March 12, 2026 /PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws and/or breaches of fiduciary duties to shareholders relating to:

Janus Henderson Group plc (NYSE: JHG)'s sale to Trian Fund Management and General Catalyst for $49.00 per share in cash. If you are a Janus shareholder, click here to learn more about your rights and options.

Udemy, Inc. (NASDAQ: UDMY)'s sale to Coursera, Inc. for 0.800 shares of Coursera common stock for each share of Udemy common stock. If you are a Udemy shareholder, click here to learn more about your rights and options.

FONAR Corporation (NASDAQ: FONR)'s sale to affiliates of Chief Executive Officer Timothy Damadian and certain executives and directors of the company for $19.00 per share for FONAR's Class B common stock and $6.34 per share for FONAR's Class C common stock. If you are a FONAR shareholder, click here to learn more about your legal rights and options.

On behalf of shareholders, Halper Sadeh LLC may seek increased consideration, additional disclosures and information, or other relief and benefits.

Halper Sadeh LLC represents investors all over the world who have fallen victim to securities fraud and corporate misconduct. Our attorneys have been instrumental in implementing corporate reforms and recovering millions of dollars on behalf of defrauded investors.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:
Halper Sadeh LLC
Daniel Sadeh, Esq.
Zachary Halper, Esq.
One World Trade Center
85th Floor
New York, NY 10007
(212) 763-0060
sadeh@halpersadeh.com
zhalper@halpersadeh.com
https://www.halpersadeh.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/are-jhg-udmy-fonr-obtaining-fair-deals-for-their-shareholders-302712517.html

SOURCE Halper Sadeh LLP