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 firstname.lastname@example.org.
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.Advertisement