Business & Finance
Business and Finance
Business and Finance
Wed, December 21, 2011 The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Delphi F
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible... -- NEW YORK, Dec. 21, 2011 /PRNewswire/ --
The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Delphi Financial Group, Inc. in Connection with the Sale of the Company to Tokio Marine Holdings, Inc.
NEW YORK, Dec. 21, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Delphi Financial Group, Inc. ("Delphi" or the "Company") (NYSE: [ DFG ]) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a subsidiary of Tokio Marine Holdings, Inc. ("TMHD"). Under the terms of the transaction, Delphi shareholders will receive $43.875 per Class A share and $52.875 per Class B share of Delphi stock they own. Delphi shareholders will also receive $1.00 in cash per share pursuant to a one-time special dividend from Delphi for each share of Class A and Class B stock they own. The total transaction value is approximately $2.7 billion.
Click here to learn how to join the action: [ http://www.zlk.com/delphi-financial-group-dfg ], or call: 877-363-5972.
The investigation concerns whether the Delphi Board of Directors breached their fiduciary duties to Delphi stockholders by failing to adequately shop the Company before entering into this transaction and whether TMHD is underpaying for Delphi shares, thus unlawfully harming Delphi stockholders. Robert Rosenkranz, chairman and chief executive officer of Delphi, who represents 49.9% of Delphi votes, has agreed to vote in favor of the transaction.
If you own common stock in Delphi and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or [ http://www.zlk.com ].
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
[ www.zlk.com ]
SOURCE Levi & Korsinsky, LLP
[ Back to top ] RELATED LINKS
[ http://www.zlk.com ]
