BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that it is investigating
potential claims against the board of directors of American Physicians
Service Group, Inc. (“American Physicians Service Group” or the
“Company”) (NASDAQ:AMPH) related to the Company’s agreement to merge
with a subsidiary of ProAssurance Corporation (“ProAssurance”). The
proposed all-cash transaction is valued at approximately $233 million.
Under the terms of the agreement entered into by the parties,
ProAssurance would acquire all the outstanding shares of American
Physicians Service Group for $32.50 per share. The board of directors of
American Physicians Service Group has unanimously approved the merger
and resolved to recommend that the Company’s shareholders vote in favor
of the transaction. The transaction is expected to close by the end of
2010. The investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the proposed transaction
by American Physicians Service Group’s board of directors.
If you are a shareholder of American Physicians Service Group, if you
have information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at http://www.howardsmithlaw.com.
Source: Law Offices of Howard G. Smith
Contact:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com