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Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Presidential Life Corporation (“Presidential Life” or the “Company”) (NASDAQ GS:
PLFE) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Athene Holding Ltd. (“Athene”) in a transaction valued at approximately $415 million.
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Under the terms of the proposal, public shareholders of Presidential Life will receive $14.00 per share in cash for each share of Presidential Life they own.
The investigation concerns whether Presidential Life’s board of directors failed to adequately shop the Company and obtain the best possible value for Presidential Life’s shareholders before entering into an agreement with Athene.
If you own the common stock of Presidential Life and purchased your shares before July 13, 2012, 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 Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242, by e-mail to
firstname.lastname@example.org, or at:
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes
securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.