LAWSUIT ALERT: The Law Firm of Andrews & Springer LLC Announces a Filing of a Class Action Lawsuit Against Protective Life Co...
20 Giugno 2014 - 12:48AM
Andrews & Springer LLC, a boutique securities class action law
firm focused on representing shareholders nationwide, announced
today that a class action lawsuit has been filed on behalf of
stockholders of Protective Life Corporation ("Protective Life" or
the "Company") (NYSE:PL) seeking to challenge the Company's
recently announced merger.
If you would like to join the class action, please visit our
website or contact Craig J. Springer, Esq. at
cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013.
You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A
CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU
RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO
NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, on June 3, 2014, Protective Life and
Dai-ichi Life Insurance Company Limited (OTC:DCNSF) ("Dai-ichi")
announced the signing of a definitive merger agreement pursuant to
which Dai-ichi would acquire Protective Life in a merger valued at
roughly $5.7 billion. As a result of the merger, Protective Life
shareholders are only anticipated to receive $70.00 per share in
cash in exchange for each share of Protective Life.
The complaint, which was filed on June 19, 2014, in the Delaware
Court of Chancery, alleges that the consideration that Protective
Life shareholders are expected to receive is inadequate. The
complaint notes that while the Company has touted that the $70 per
share consideration represents a 34% premium for stockholders, in
reality the premium is only 19.6% when compared to the Company's
closing price on June 2, 2014, the day before the merger was
announced. In addition to these allegations, there was highly
suspicious trading activity the day before the merger was
announced. On June 2, 2014, over 5.8 million shares of Protective
Life were traded right before news of the merger was made
public.
If you own shares of Protective Life and want to receive
additional information and protect your investments free of charge,
please visit us at
http://www.andrewsspringer.com/cases-investigations/protectivelife
or contact Craig J. Springer, Esq. at
cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013.
You may also follow us on LinkedIn –
www.linkedin.com/company/andrews-&-springer-llc, Twitter –
www.twitter.com/AndrewsSpringer or Facebook -
www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law
firm representing shareholders nationwide who are victims of
securities fraud, breaches of fiduciary duty or corporate
misconduct. Having formerly defended some of the largest financial
institutions in the world, our founding members use their valuable
knowledge, experience, and superior skill for the sole purpose of
achieving positive results for investors. These traits are the
hallmarks of our innovative approach to each case our Firm decides
to prosecute. For more information please visit our website at
www.andrewsspringer.com. This notice may constitute Attorney
Advertising.
CONTACT: Craig J. Springer, Esq.
cspringer@andrewsspringer.com
Call Toll Free: 1-800-423-6013
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