Law Office of Brodsky & Smith, LLC Announces Investigation of Penn Millers Holding Corporation
13 Setembro 2011 - 1:23PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Penn Millers Corporation. (“Penn Millers” or the “Company”)
(Nasdaq: PMIC) relating to the proposed acquisition by a subsidiary
of ACE Limited.
Under the terms of the proposed transaction Penn Millers
shareholders would receive $20.50 in cash for each share Penn
Millers stock they own. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Penn Millers for not acting in the Company’s
shareholders' best interests in connection with the sale process to
ACE Limited. The Board of directors may not have adequately shopped
the Company before entering into this transaction and ACE Limited
may be underpaying for the Company.
If you own shares of Penn Millers stock and wish to discuss the
legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or
Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza,
Suite 602, Bala Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/328-pmic-penn-millers-corporation.html, or
by calling toll free 877-LEGAL-90.
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