SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Presidential Life Corporation in Connection with the Sale of the Company to Athene Holding Ltd.
Published on Tuesday, 17 July 2012 11:36 Written by TradersHuddle Staff
NEW YORK, July 17, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Presidential Life Corporation ("Presidential Life" or the "Company") (NasdaqGS: PLFE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Athene Holding Ltd.
Click here to learn how to join the action: http://zlk.9nl.com/presidential-life-plfe, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Presidential Life shareholders will receive $14.00 per share of Presidential Life stock they own. The transaction has an approximate total value of $415 million. The investigation concerns whether the Presidential Life Board of Directors breached their fiduciary duties to Presidential Life stockholders by failing to adequately shop the Company before entering into this transaction and whether Athene Holding Ltd. is underpaying for Presidential Life shares, thus unlawfully harming Presidential Life stockholders. In particular, Presidential Life reported a Book Value of $26.95 per share for the most recent quarter.
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP
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