Levi & Korsinsky, LLP is Investigating the Possible Breaches of Fiduciary Duty by the Board of American Physician Service Group
Levi & Korsinsky is investigating the Board of Directors of American Physicians Service Group Inc. (“AMPH” or the “Company”) (NasdaqCM: AMPH) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to ProAssurance Corporation (“ProAssurance”) (NYSE: PRA).
New York, NY, September 02, 2010 — Under the terms of the transaction, AMPH shareholders will receive $32.50 in cash for each AMPH share of common stock they own for a total transaction value of approximately $220 million.
The investigation concerns whether the AMPH Board of Directors breached their fiduciary duties to AMPH stockholders by failing to adequately shop the Company before entering into this transaction and whether ProAssurance is underpaying for AMPH shares, thus unlawfully harming AMPH stockholders. In particular, at least one analyst set a price target for AMPH stock at $35.00 per share.
If you own common stock in AMPH and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500 or visit http://www.zlk.com/american-physicians-amph.html.
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.
CONTACT: Levi & Korsinsky, LLP, Joseph Levi, Esq., Eduard Korsinsky, Esq., 30 Broad Street – 15th Floor, New York, NY 10004, Tel: (212) 363-7500, Fax: (212) 363-7171, www.zlk.com
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Contact:
Jared Morine
Levi & Korsinsky, LLP
30 Broad Street, 15th Floor
New York, NY 10004
212-363-7500
jmorine@zlk.com
http://www.zlk.com