The Law Firm Of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of Harleysville Group Inc. In Connection With Sale Of The Company To Nationwide Mutual Insurance Company
NEW YORK, Oct. 3, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Harleysville Group Inc. ("Harleysville Group" or the "Company") (NASDAQ: HGIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Nationwide Mutual Insurance Company. Under the terms of the transaction, Harleysville Group shareholders will receive $60.00 for each share of Harleysville Group stock they own, while Harleysville Mutual policyholders will become policyholders and members of Nationwide Mutual Insurance Company. The transaction has a total value of approximately $1.63 billion. Click here to learn more about the investigation: http://www.zlk.com/harleysville-group-hgic, or call: 877-363-5972. The claims concern whether the Harleysville Group Board of Directors breached their fiduciary duties to Harleysville Group stockholders by failing to adequately shop the Company before entering into this transaction and whether Nationwide Mutual Insurance is underpaying for Harleysville Group shares, thus unlawfully harming Harleysville Group stockholders. If you own common stock in Harleysville Group and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Harleysville Group (Nasdaq:HGIC) hit a new 52-week high Friday as it is currently trading at $59.80, above its previous 52-week high of $59.76 with 90,687 shares traded as of 3:30 p.m. ET. Average volume has been 60,900 shares over the past 30 days.