Robbins Umeda LLP Is Investigating FPIC Insurance Group, Inc. Acquisition for Shareholders
24 Mayo 2011 - 4:37PM
Business Wire
Robbins Umeda LLP, a shareholder rights litigation firm, is
interested in helping shareholders of FPIC Insurance Group, Inc.
(NASDAQ: FPIC). The firm has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by members of the board of directors of FPIC Insurance in
connection with their efforts to sell the company to The Doctors
Company.
If you own stock in FPIC Insurance and would like more
information about your shareholder rights, please contact Gregory
E. Del Gaizo at 800-350-6003 or via the shareholder information
form on our website.
On May 24, 2011, FPIC Insurance announced it has entered into a
definitive agreement to be acquired by The Doctors Company. Under
the terms of the agreement, FPIC Insurance shareholders will
receive $42.00 in cash for each share of FPIC Insurance common
stock held. The transaction is expected to be completed by the
fourth quarter 2011.
The investigation focuses on whether FPIC Insurance's board is
undertaking a fair process to obtain maximum value and adequately
compensate its shareholders in light of the company's recent
positive financial performance. For example, on May 4, 2011, FPIC
Insurance reported strong first quarter 2011 results. Quarterly
revenue beat analyst expectations, and the company reported
operating earnings per share of $0.67 versus a consensus estimate
of $0.63.
Robbins Umeda LLP represents individual and institutional
shareholders in derivative, direct, and class action lawsuits. The
firm's skilled litigation teams include former federal prosecutors,
former defense counsel from top multinational corporate law firms,
and career shareholder rights attorneys. Robbins Umeda LLP has
helped its clients realize more than $1 billion of value for
themselves and the companies in which they have invested. For more
information, please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/fpic-insurance-group-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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