SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of Protective Life Corporation In Connection With The Proposed Sale Of The Company To Dai-ichi Life Insurance Company, Limited

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Protective Life Corporation (“Protective Life” or the “Company”) (NYSE: PL) and other violations of state law by the board of directors of Protective Life relating to the proposed buyout of the Company by Dai-ichi Life Insurance Company, Limited (“Dai-ichi Life”), in a transaction valued at approximately $5.7 billion.

Under the terms of the transaction, public shareholders of Protective Life would receive $70.00 per unit in cash for each share of Protective Life they own. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Dai-ichi Life is underpaying for Protective Life shares.

If you currently own common stock of Protective Life and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

Copyright Business Wire 2010

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