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Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of PMA Capital Corporation

  //business-finance.news-articles.net/content/201 .. -of-shareholders-of-pma-capital-corporation.html
  Published in Business and Finance on Friday, June 11th 2010 at 18:20 GMT by Market Wire
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BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of PMA Capital Corporation (aPMAa or the aCompanya) (NASDAQ:PMACA) related to the Companya™s agreement to merge with Old Republic International Corporation (aOld Republica). The proposed stock-for-stock transaction is valued at approximately $365 million.

Under the terms of the merger agreement entered into by the parties, Old Republic will issue 0.55 shares of Old Republic common stock in exchange for each outstanding common share of PMA. The exchange ratio is subject to upward or downward adjustment a" based on the price of Old Republic common stock preceding the closing of the merger a" but will not be greater than 0.60 or less than 0.50. The transaction is expected to close during the third quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by PMAa™s board of directors.

If you own shares of PMA, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].