NEW YORK, Sept. 24, 2013 /PRNewswire/ -- Pomerantz
Grossman Hufford Dahlstrom & Gross LLP is investigating claims
on behalf of investors of Eastern Insurance Holdings, Inc.
("Eastern" or the "Company") (NASDAQ: EIHI) (ISIN: US2765341043)
(CUSIP: 276534104) concerning the proposed acquisition of Eastern
by ProAssurance Corporation in a transaction valued at
approximately $205 million, and is
expected to close by January 1,
2014.
The investigation concerns whether the Eastern directors are
breaching their fiduciary duties by failing to adequately shop the
Company and maximize shareholder value. Under the terms of
the agreement, Eastern shareholders will receive $24.50 per share in cash for each share of
Eastern common stock. However, the Price to Revenue and Book
Value multiples are below the average of comparable transactions,
and synergies may not be fully reflected in offered price.
Eastern shareholders seeking more information about this
acquisition are advised to contact Robert
Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or
888-476-6529, ext. 237.
The firm is also investigating actions on behalf of shareholders
for the following companies: Official Payments Holdings,
Inc.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San
Diego, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of defrauded
investors. See www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz Grossman Hufford Dahlstrom
& Gross LLP
212-661-1100 ext. 237
rswilloughby@pomlaw.com
SOURCE Pomerantz Grossman Hufford
Dahlstrom & Gross LLP