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The Briscoe Law Firm and Powers Taylor,;; LLP Announce Investigation of Penn Millers Holding Corporation

^{Published on 2011-09-08 20:22:03 - Market Wire}
 

DALLAS--([ BUSINESS WIRE ])--Former United States Securities and Exchange Commission attorney [ Willie Briscoe ] and the securities litigation firm of [ Powers Taylor, LLP ] are investigating the acquisition of Penn Millers Holding Corporation (aPenn Millersa or the aCompanya) (NASDAQ: PMIC). Penn Millers recently entered into an acquisition agreement with a subsidiary of ACE Limited (NYSE: ACE) in which Penn Millers will be purchased and Penn Millers shareholders will receive $20.50 in cash for each share of Penn Millers/PMIC owned.

"We are investigating the fairness of the proposed transaction to PMIC shareholders, whether the shareholders are being underpaid for their stock, and whether PMICa™s Board of Directors acted in the shareholdersa™ best interests"

If you are an affected shareholder, and you want to learn more about the investigation or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $107 million.

aWe are investigating the fairness of the proposed transaction to PMIC shareholders, whether the shareholders are being underpaid for their stock, and whether PMICa™s Board of Directors acted in the shareholdersa™ best interests,a said shareholder rights attorney Willie Briscoe. In particular, as of June 30, 2011, PMICa™s book value per share was $20.27, which may indicate that the stock could be undervalued. aBased on these and other factors, we are additionally investigating whether the transaction undervalues the stock, and our anticipated lawsuit will seek to obtain the highest share price for all shareholders,a said Willie Briscoe.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.

Powers Taylor, LLP is a boutique litigation firm that handles a variety of complex business litigation matters nationwide, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.