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Glancy Binkow & Goldberg LLP Announces Investigation of Penn Millers Holding Corp.

^{Published on 2011-09-08 20:41:01 - Market Wire}
 

LOS ANGELES--([ BUSINESS WIRE ])--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims against the Board of Directors of Penn Millers Holding Corporation (aPenn Millersa or the aCompanya) (NASDAQ: PMIC) related to the proposed acquisition of the Company by a subsidiary of ACE Limited. The transaction is valued at approximately $104 million or $20.50 per share.

The investigation concerns whether the Board of Directors of Penn Millers breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. The Company has seen substantial recent growth. Ita™s share price has sky rocketed from $13.78 on April 15, 2011 to $17.65 on May 10, 2011.

If you are a shareholder of Penn Millers, 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 Louis Boyarsky, Esquire, Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, CA 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by email to [ shareholders@glancylaw.com ].