The Law Firm of Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Delphi Finan...
December 27 2011 - 2:33PM
Marketwired
Levi & Korsinsky notifies investors of Delphi Financial Group,
Inc. ("Delphi" or the "Company") (NYSE: DFG) of claims of breaches
of fiduciary duty and other violations of state law against the
board of directors of the Company in connection with the sale of
the Company to a subsidiary of Tokio Marine Holdings, Inc.
("TMHD"). Under the terms of the transaction, Delphi shareholders
will receive $43.875 per Class A share and $52.875 per Class B
share of Delphi stock they own. Delphi shareholders will also
receive $1.00 in cash per share pursuant to a one-time special
dividend from Delphi for each share of Class A and Class B stock
they own. The total transaction value is approximately $2.7
billion. A complaint was filed in Delaware state court.
Click here to learn how to join the action:
http://www.zlk.com/delphi-financial-group-dfg, or call:
877-363-5972.
The claims concern whether the Delphi Board of Directors
breached their fiduciary duties to Delphi stockholders by failing
to adequately shop the Company before entering into this
transaction and whether TMHD is underpaying for Delphi shares, thus
unlawfully harming Delphi stockholders. Robert Rosenkranz, chairman
and chief executive officer of Delphi, who represents 49.9% of
Delphi votes, has agreed to vote in favor of the transaction.
If you own common stock in Delphi 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 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. 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
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