Rigrodsky & Long, P.A. Investigates First Mercury Financial Corporation Buyout
29 Octobre 2010 - 10:37PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of First Mercury
Financial Corporation (“First Mercury” or the “Company”) (NYSE:FMR)
concerning possible breaches of fiduciary duty and other violations
of law related to the Company’s entry into an agreement to be
acquired by Fairfax Financial Holdings Limited (“Fairfax
Financial”) in a transaction valued at approximately $294 million.
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http://www.rigrodskylong.com/news/FirstMercuryFinancialCorp-FMR.
Under the proposed agreement, First Mercury shareholders will
receive $16.50 per share in cash for each share of First Mercury
they own. In addition, Richard H. Smith, the Chairman, President
and CEO of First Mercury, and Chairman Emeritus Jerome M. Shaw, a
director and the founder of First Mercury, who together
beneficially own approximately 17% of the outstanding shares of
First Mercury common stock, have agreed to vote their shares in
favor of the merger.
The investigation concerns whether First Mercury’s board of
directors failed to adequately shop the Company and obtain the best
price possible for First Mercury’s shareholders before entering
into the agreement with Fairfax Financial.
If you own the common stock of First Mercury and purchased your
shares before October 28, 2010, 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 Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware, by telephone at (888)
969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
First Mercury Financial Corp (NYSE:FMR)
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