Faruqi & Faruqi, LLP Announces Investigation of Penn Millers Holding Corporation
10 September 2011 - 1:00AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, is investigating the Board of
Directors of Penn Millers Holding Corporation (“Penn Millers” or
the “Company”) (NASDAQ: PMIC) for potential breaches of fiduciary
duties in connection with their conduct related to the sale of the
Company to a subsidiary of ACE Limited (NYSE: ACE) in an all-cash
deal valued at about $104.5 million. Under the terms of the
proposed transaction, Penn Millers stockholders will receive $20.50
in cash per each share of Penn Millers they own.
Request more information now by clicking here:
www.faruqilaw.com/PMIC
Whether Penn Millers’ Board of Directors breached their
fiduciary duties to the Company’s stockholders by failing to
conduct an adequate and fair sales process prior to agreeing to
this proposed transaction, whether the proposed transaction
undervalues Penn Millers’ shares and by how much this proposed
transaction undervalues the Company to the detriment of
Penn-Millers’ shareholders are the key focus of this
investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, throughout all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in Penn Millers and wish to obtain
additional information, please visit us at www.faruqilaw.com/PMIC
or contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2011 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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