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/.

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