Law Office of Brodsky & Smith, LLC Announces Investigation of Presidential Life Corporation
03 Agosto 2012 - 3:00AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Presidential Life Corporation (“Presidential Life” or the
“Company”) (Nasdaq- PLFE) relating to the proposed acquisition by
Athene Holding Ltd. (“Athene”).
Under the terms of the transaction, Presidential Life
shareholders will receive only $14.00 in cash for each share of
Presidential Life stock they own. The investigation concerns
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Presidential Life for not acting
in the Company’s shareholders' best interests in connection with
the sale process to Athene. The offer price is substantially below
the reported Book Value of the Company. As a result, the
transaction may have undervalued Presidential Life resulting in
harm to the Presidential Life shareholders.
If you own shares of Presidential Life 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/449-plfe-presidential-life-corporation.html,
or by calling toll free 877-LEGAL-90.
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