The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Penn Millers Holding Corporation
08 Setembro 2011 - 3:43PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the acquisition of Penn Millers Holding
Corporation (“Penn Millers” or the “Company”) (NASDAQ: PMIC). Penn
Millers recently entered into an acquisition agreement with a
subsidiary of ACE Limited (NYSE: ACE) in which Penn Millers will be
purchased and Penn Millers shareholders will receive $20.50 in cash
for each share of Penn Millers/PMIC owned.
If you are an affected shareholder, and you want to learn more
about the investigation or join the action, contact Patrick Powers
at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law
Firm, PLLC toll free (877) 397-5991, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
The definitive acquisition agreement involves an all cash
transaction valued at approximately $107 million.
“We are investigating the fairness of the proposed transaction
to PMIC shareholders, whether the shareholders are being underpaid
for their stock, and whether PMIC’s Board of Directors acted in the
shareholders’ best interests,” said shareholder rights attorney
Willie Briscoe. In particular, as of June 30, 2011, PMIC’s book
value per share was $20.27, which may indicate that the stock could
be undervalued. “Based on these and other factors, we are
additionally investigating whether the transaction undervalues the
stock, and our anticipated lawsuit will seek to obtain the highest
share price for all shareholders,” said Willie Briscoe.
The Briscoe Law Firm is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of
experience in complex litigation matters.
Powers Taylor, LLP is a boutique litigation firm that handles a
variety of complex business litigation matters nationwide,
including claims of investor and stockholder fraud, shareholder
oppression, shareholder derivative suits, and security class
actions.
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