The Law Firm of Weiss & Lurie Investigates Penn Millers Holding Corp.
08 Septiembre 2011 - 12:50PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Penn Millers Holding
Corp. (NASDAQ:PMIC) arising from its proposed acquisition by ACE
Limited (NYSE:ACE) for $20.50 per share in cash. The transaction is
expected to close by the end of the first quarter of 2012, subject
to customary closing conditions, including regulatory and PMIC
shareholder approvals.
Weiss & Lurie is investigating whether PMIC’s Board acted in
the best interests of its shareholders in approving the
transaction. Notably, as of June 30, 2011, PMIC’s book value per
share was $20.27, indicating that the stock may be undervalued.
Moreover, the transaction follows soon after the Company announced
its financial results for its most recent second quarter, which is
typically the quarter during which PMIC experiences the highest
level of weather-related loss activity.
If you own PMIC shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by email at
info@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in 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
issuing materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at info@weisslurie.com or fill out the form on our
website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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