PROTECTIVE LIFE SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe And Powers Taylor LLP Investigate Potentially Unfair Sale Of Protective Life To Dai-ichi

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor LLP are investigating potential claims against the Board of Directors of Protective Life Corporation (“Protective Life”) (NYSE: PL) concerning the sale of Protective Life to Dai-ichi Life Insurance Company, Limited (“Dai-ichi”). Under the terms of the transaction, which is valued at approximately $5.7 billion, Protective Life shareholders will only receive $70 in cash per unit owned.

According to shareholder rights attorneys Willie Briscoe: “We are concerned that the price offered to PL shareholders does not adequately compensate them for the true inherent value of the company. This is especially worrisome because PL shares have risen over 54% in value in just the past 52 weeks. Yet the price being offered is not a meaningful premium.” If you are an affected investor, and you want to learn more about the investigation or if you have information that you believe would be helpful to our investigation of the fairness of the proposed transaction, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at shareholder@powerstaylor.com. There is no cost or fee to you.

The investigation centers on whether Protective Life’s Board of Directors is acting in the shareholders’ best interests, whether the board is properly negotiating a higher share price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Copyright Business Wire 2010

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