NEW YORK, June 29, 2016 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of American
Independence Corp. ("AMIC" or the "Company") in connection with the
proposed acquisition of the Company by Independence Holding Company
("IHC"). On June 27, 2016, the
Company announced it had reached a definitive agreement for IHC to
acquire all outstanding shares of AMIC. Under the terms of
the agreement, AMIC shareholders will receive $24.74 in cash for each AMIC share they
own.
WeissLaw is investigating whether AMIC's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, AMIC shares traded for $25.98 as recently as three days prior to the
announcement of the acquisition. Additionally, the Company
recently announced positive financial results. On
June 6, 2016, it reported revenues of
$47.4 million in the three-month
period ended December 31, 2015,
representing an increase of approximately 17% year-over-year when
compared to the $40.6 million
reported in the same period of the previous year.
Given these facts, WeissLaw is investigating whether AMIC's
Board acted in the best interests of AMIC's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own AMIC shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/contact/report_fraud/.
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SOURCE WeissLaw LLP