NEW YORK, May 15, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty
and other violations of law by the Board of Directors of EMC
Insurance Group Inc. ("EMCI" or the "Company") (NASDAQ: EMCI) in
connection with the proposed merger of the Company with Employers
Mutual Casualty Company ("EMCC"). Under the terms of the
merger agreement, EMCC would acquire all of the shares of EMCI it
does not already own and take the Company private.
Shareholders will receive a paltry $36.00 per share, a fire sale price for a company
whose financial outlook has been steadily improving as evidenced by
EMCI's recent first-quarter net income of $33.5 million, compared with a net loss of
$76,000 for the first quarter of
2018.
If you own EMCI shares and wish to discuss
this investigation or have any questions concerning this notice or
your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
Visit our
website
http://www.weisslawllp.com/
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WeissLaw is investigating whether EMCI's Board acted to maximize
shareholder value prior to entering into the merger
agreement. Notably, the merger agreement bars the
solicitation of competing bids and imposes a penalty if EMCI
accepts a better offer.
Despite EMCC's belief that the merger will "drive enhanced
value for our organization and our policyholders," WeissLaw is
investigating whether EMCI's Board conducted a fair process in
agreeing to the proposed merger, whether the proposed merger
undervalues the Company, and whether all material information
related to the proposed merger is fully and fairly disclosed.
In light of the above, WeissLaw is concerned with EMCC's focus on
"solely serving the best interests of policyholders," at the
expense of EMCI shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
