Kendall Law Group Investigates Pre-Paid Legal Services, Inc. Acquisition for Shareholders
January 31 2011 - 10:33AM
Business Wire
Kendall Law Group, led by former federal judge Joe Kendall, is
investigating Pre-Paid Legal Services, Inc. (NYSE: PPD) for
shareholders in connection with the proposed acquisition by entites
related to MidOcean Partners. The national securities firm’s
investigation seeks to determine whether Pre-Paid Legal Services
and its Board breached their fiduciary duties by entering into the
agreement without properly shopping for a deal that would provide
better value for shareholders. If you are a Pre-Paid Legal Services
shareholder and would like additional information about your
rights, contact the Kendall Law Group at 877-744-3728 or by email
at skendall@kendalllawgroup.com.
On January 31, 2011, Pre-Paid Legal Services announced the
definitive merger agreement under which the company would be
acquired by MidOcean PPL Holdings Corp. and PPL Acquisition Corp.,
both newly created entities formed by MidOcean Partners, in a
transaction valued at approximately $650 million. Under the terms
of the agreement, Pre-Paid Legal Services stockholders will receive
$66.50 in cash for each share of Pre-Paid Legal Services/PPD common
stock. Pre-Paid Legal Services stock had a closing price as high as
$65.77 on December 6, 2010. The firm’s investigation seeks to
determine whether Pre-Paid Legal Services and its Board negotiated
a deal that provides the best value available to shareholders.
Kendall Law Group was founded by a former federal judge,
includes a former United States Attorney, prosecutors and
securities lawyers who are experienced in complex securities
litigation. The firm has been counsel in numerous merger and
acquisition cases nationwide, including some of the largest
transactions in the United States.
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