NEW YORK, Oct. 11, 2013 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Eastern Insurance Holdings, Inc. ("Eastern Insurance" or the "Company") (NasdaqGS: EIHI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to ProAssurance Corporation (NYSE: PRA) in a cash deal valued at approximately $205 million. Under the terms of the proposed transaction, Eastern Insurance's stockholders will receive $24.50 for each share of Eastern Insurance common stock they own.
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The investigation focuses on whether Eastern Insurance's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Eastern Insurance's shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.
If you own common stock in Eastern Insurance and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EIHI or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330.
Contact:
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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