Meadowbook Insurance Group Inc.
MEADOWBROOK INSURANCE (MIG) INVESTIGATION ALERT - Andrews & Springer LLC Is Seeking More Cash for Shareholders of Meadowbrook Insurance Group Inc.
(Wilmington, DE) Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, is investigating potential breach of fiduciary duty claims against the Board of Directors of Meadowbrook Insurance Group, Inc. (NYSE: MIG) (“Meadowbrook” or the “Company”) relating to the sale of the Company to Fosun International Limited (“Fosun”). On December 30, 2014, the two companies announced the signing of a definitive merger agreement pursuant to which Fosun will acquire Meadowbrook in a merger worth $433 million. As a result of the merger, Meadowbrook shareholders are only anticipated to receive $8.65 per share in cash in exchange for each share of Meadowbrook.
Our investigation so far has revealed that the consideration Meadowbrook shareholders are expected to receive is inadequate. While the Company claims that shareholders will receive a premium for their shares, Fosun, with over $50 billion in total assets, is paying only 1.04x tangible book value for Meadowbrook.
As a result of this news, Andrews & Springer is investigating whether Meadowbrook directors are breaching their fiduciary duties by failing to adequately shop the company and maximize shareholder value.
If you own shares of Meadowbrook and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/MIG or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.