Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers
Taylor LLP are investigating potential claims against the Board of
Directors of Protective Life Corporation (“Protective Life”) (NYSE: PL)
concerning the sale of Protective Life to Dai-ichi Life Insurance
Company, Limited (“Dai-ichi”). Under the terms of the transaction, which
is valued at approximately $5.7 billion, Protective Life shareholders
will only receive $70 in cash per unit owned.
According to shareholder rights attorneys Willie Briscoe: “We are
concerned that the price offered to PL shareholders does not adequately
compensate them for the true inherent value of the company. This is
especially worrisome because PL shares have risen over 54% in value in
just the past 52 weeks. Yet the price being offered is not a meaningful
premium.” If you are an affected investor, and you want to learn more
about the investigation or if you have information that you believe
would be helpful to our investigation of the fairness of the proposed
transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com,
or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via
e-mail at shareholder@powerstaylor.com.
There is no cost or fee to you.
The investigation centers on whether Protective Life’s Board of
Directors is acting in the shareholders’ best interests, whether the
board is properly negotiating a higher share price for the shareholders,
and whether the board has employed an adequate process to review and act
on the proposed transaction.
The
Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience
in complex litigation and transactional matters.
Powers
Taylor LLP is a boutique litigation law firm that handles a variety
of complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits,
and security class actions.
Copyright Business Wire 2014