NEW YORK, Sept. 21, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Penn Millers
Holding Corporation ("Penn Millers" or the "Company") (NASDAQ:
PMIC) for possible breaches of fiduciary duty and other violations
of state law in connection with the sale of the Company to a
subsidiary of ACE Limited (NYSE: ACE). Under the terms of the
transaction, Penn Millers shareholders will receive $20.50 per share in cash for each share of Penn
Millers stock they own. The transaction has a total value of
approximately $107 million.
Click here to learn how to join the action:
http://www.zlk.com/penn-millers-pmic, or call: 877-363-5972.
The investigation concerns whether the Penn Millers Board of
Directors breached their fiduciary duties to Penn Millers
stockholders by failing to adequately shop the Company before
entering into this transaction and whether ACE Limited is
underpaying for Penn Millers shares, thus unlawfully harming Penn
Millers stockholders.
If you own common stock in Penn Millers and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or http://www.zlk.com.
Levi & Korsinsky is a national firm with offices in
New York, California and Washington D.C. The firm has extensive
expertise in prosecuting investor securities litigation involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information,
please feel free to contact any of the attorneys listed below.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877)
363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky