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Pre-Paid Legal's CEO Discusses Q1 2011 Results - Earnings Call Transcript

Pre-Paid Legal Services, Inc. (PPD)

Q1 2011 Earnings Call Transcript

April 27, 2011 8:30 am ET

Executives

Randy Harp – President, Co-CEO and COO

Steve Williamson – CFO

Presentation

Operator

Good day ladies and gentlemen, and welcome to the Pre-Paid Legal first quarter earnings results conference call. At this time, all participants' are in a listen-only mode. (Operator instructions)

I would now like to turn the conference over to your host, Mr. Randy Harp, Chief Operation Officer. Please go ahead.

Randy Harp

Thank you Ally. I want to welcome everyone to the 2011 first-quarter earnings conference call for Pre-Paid Legal Services Inc. Joining me here at our home office is Steve Williamson, our Chief Financial Officer.

Before we begin, I like to remind everyone that the conference call will contain forward-looking statements, including our expectations of future results and future plans. Actual results might differ materially from those projected in those forward-looking statements. Additional information concerning risk factors that could cause the results to differ materially from these forward-looking statements are contained in our press releases announcing our earnings as well as disclosures in our other public reports on Forms 10-K, 10-Q, and 8-K and any amendments filed thereto with the SEC, and those reports are available both on the SEC’s EDGAR website as well as Pre-Paid Legal’s website.

As we have mentioned previously and publicly announced, we entered into a definitive merger agreement on January 30, 2011 with newly created entities formed by MidOcean Partners, a New York private equity firm, and the merger agreement provides that MidOcean will acquire all the outstanding shares of Pre-Paid for a cash payment of $66.50 per share, or approximately $650 million in the aggregate. The closing of the transaction is subject to certain terms and conditions customary for transactions of this type, including receipt of stockholder and regulatory approvals.

Stock quotes in this article: PPD 

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