SAN DIEGO--(BUSINESS WIRE)--
Robbins
Umeda LLP ("Robbins Umeda") has commenced an investigation into
possible breaches of fiduciary duty and other violations of state law by
members of the Board of Directors ("Board") of American Physicians
Service Group, Inc. ("APS" or the "Company") (NASDAQ: AMPH) in
connection with their efforts to sell APS to ProAssurance Corporation
("ProAssurance") (NYSE: PRA). If the transaction is completed, APS
shareholders will receive $32.50 in cash for each share of APS common
stock they hold. The transaction is expected to close during the fourth
quarter of this year.
Robbins Umeda's investigation concerns whether APS's Board undertook a
fair process to obtain fair consideration for all shareholders of APS.
Specifically, our investigation concerns whether the members of the
Company's Board breached their fiduciary duties by entering into an
agreement to sell the Company to ProAssurance at an unfair price.
Notably, at least one analyst set a price target for the Company at $35
per share. Additionally, APS has strong future growth prospects, as
shown by the 28.6% growth in its second quarter 2010 diluted Earnings
Per Share.
If you are a shareholder of APS, plan to continue to hold your shares,
and would like more information about your rights as a shareholder,
please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by
e-mail at info@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm with significant
experience representing investors in merger-related shareholder class
actions, shareholder derivative actions, and securities fraud class
actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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Source: Robbins Umeda LLP
Contact:
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003
info@robbinsumeda.com