The Law Office of Abe Shainberg Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of First ...
November 01 2010 - 7:11PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of First Mercury Financial Corporation (NYSE: FMR) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to Fairfax
Financial Holdings Limited (“Fairfax Financial”). Under the terms
of the transaction, First Mercury shareholders will receive $16.50
in cash for each share of First Mercury common stock they own for a
total transaction value of approximately $294 million.
The investigation concerns whether the First Mercury Board of
Directors breached their fiduciary duties to First Mercury
stockholders by failing to adequately shop the Company before
entering into this transaction and whether Fairfax Financial is
underpaying for First Mercury shares, thus unlawfully harming First
Mercury stockholders. The Company reported a book value of $16.87
per share for the most recent quarter.
If you own common stock in First Mercury and wish to obtain
additional information, please contact Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/first-mercury-fmr.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide.
First Mercury Financial Corp (NYSE:FMR)
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