Shareholder Alert: Ademi LLP Investigates whether Protective Insurance Corporation has obtained a Fair Price in its transaction with The Progressive Corporation
Provided By PR Newswire
Last update: Feb 16, 2021
MILWAUKEE, Feb. 16, 2021 /PRNewswire/ -- Ademi LLP is investigating Protective Insurance (NASDAQ: PTVCA and PTVCB) for possible breaches of fiduciary duty and other violations of law in its transaction with The Progressive.
Click here to learn how to join the action: http://ademilaw.com/case/protective-insurance-corporation or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Protective Insurance's financial outlook is improving and yet Protective Insurance shareholders will receive only $23.30 for each Class A and Class B share they own. The merger agreement unreasonably limits competing bids for Protective Insurance by prohibiting solicitation of further bids, and imposing a termination penalty if Protective Insurance accepts a superior bid. Protective Insurance insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Protective Insurance's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Protective Insurance.
If you own Protective Insurance common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/protective-insurance-corporation.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001
SOURCE Ademi LLP
