Law Firm Brower Piven Announces Investigation of Delphi Financial Group, Inc.
December 21 2011 - 7:35PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Delphi Financial Group, Inc. (“Delphi”)
(NYSE: DFG) and other violations of state law by the board of
directors of Delphi relating to the proposed acquisition of the
company by Tokio Marine Holdings Inc. (“TMHD”). The firm's
investigation seeks to determine, among other things, whether the
board breached their fiduciary duties by failing to maximize
shareholder value.
On December 21, 2011, Delphi and TMHD announced that they have
entered into a definitive agreement pursuant to which TMHD, through
its wholly owned subsidiary, Tokio Marine & Nichido Fire
Insurance Co., Ltd., will acquire all outstanding shares of Delphi
for $43.875 per Class A share and $52.875 per Class B share in
cash. According to the announcement, shareholders of Delphi will
receive $1 in cash per share through a one-time special dividend.
The press release states the total transaction value is
approximately $2.7 billion.
If you currently own shares of Delphi and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925
Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigation securities and other
class action cases of over 60 years.
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