Law Offices of Howard G. Smith Announces Investigation of Penn Millers Holding Corp.
08 Septiembre 2011 - 5:59PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the Board of Directors of
Penn Millers Holding Corporation (“Penn Millers” or the “Company”)
(NASDAQ: PMIC) related to the proposed acquisition of the Company
by a subsidiary of ACE Limited. The transaction is valued at
approximately $104 million or $20.50 per share.
The investigation concerns whether the Board of Directors of
Penn Millers breached their fiduciary duties to stockholders by
failing to adequately shop the Company before agreeing to enter
into the proposed transaction, and whether the Company has
disclosed all material information to shareholders about the
transaction. The Company has seen substantial recent growth. Its
share price has sky rocketed from $13.78 on April 15, 2011 to
$17.65 on May 10, 2011.
If you are a shareholder of Penn Millers, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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