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Infinity Property and Casualty Corporation (NASDAQ: IPCC) Investor Lawsuit Over Alleged Wrongdoing In Acquisition Announced

  • Investors who purchased shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC) may certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Case Dismissed
Company
Infinity Property and Casualty Corporation
Security
NASDAQ: IPCC

Case Name
Infinity Property and Casualty Deal Case
Type of Lawsuit
Mergers and Acquisition
Class Period Begin
Class Period End
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Summary

August 3, 2018 - The case was voluntarily dismissed.
May 7, 2018 - An investor, who currently holds shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC), filed a lawsuit in effort to halt the proposed takeover of Infinity Property and Casualty Corporation.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: IPCC stockholders by agreeing to sell Infinity Property and Casualty Corporation cheaply via an unfair process.

Birmingham, AL based Infinity Property and Casualty Corporation, through its subsidiaries, provides personal auto insurance products in the United States. On February 13, 2018, Kemper Corporation (NYSE: KMPR) and Infinity Property and Casualty Corporation (NASDAQ: IPCC) announced that they have entered into a merger agreement under which Kemper will acquire Infinity in a cash and stock transaction valued at approximately $1.4 billion, or $129.00 per share.

However, the plaintiff claims that the proposed consideration NASDAQ: IPCC shareholders will receive is grossly inadequate and undervalues A Infinity Property and Casualty Corporation. In addition, the plaintiff alleges that the process is also unfair NASDAQ: IPCC stockholders. Indeed