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Meadowbrook Insurance Group, Inc. (NYSE:MIG) Investor Files Lawsuit Against Acquisition

  • If you purchased shares of Meadowbrook Insurance Group, Inc. (NYSE:MIG) and currently hold any of those NYSE:MIG shares, you have certain options and you should 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

Company
Meadowbrook Insurance Group, Inc.
Security
NYSE: MIG

Case Name
Meadowbrook Insurance Group Deal Case 01/12/2015
Type of Lawsuit
Mergers and Acquisition
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Summary

January 13, 2015 (Shareholders Foundation) - An investor, who currently holds shares of Meadowbrook Insurance Group, Inc. (NYSE:MIG), filed a lawsuit in effort to halt the proposed takeover of Meadowbrook Insurance Group, Inc. by Fosun International Limited for $8.65 per share.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:MIG stockholders by agreeing to sell Meadowbrook Insurance Group, Inc too cheaply via an unfair process to Fosun International Limited.

On December 30, 2014, Fosun International Limited (HKEx stock code: 00656, together with its subsidiaries, Fosun ) and Meadowbrook Insurance Group, Inc. (NYSE: MIG) announced that they have entered into a definitive agreement under which Fosun will acquire Meadowbrook for US$8.65 per share in cash, representing an aggregate transaction value of approximately US$433 million.

However, the plaintiff claims that the offer is too low and undervalues Meadowbrook Insurance Group, Inc. Indeed, NYSE:MIG shares traded in July 2013 as high as $8.68 per share and that at least one analyst has set the high target price for NYSE:MIG shares at $8.00 per share. In addition, the plaintiff claims that the process is also unfair to NYSE:MIG stockholders.