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If you purchased shares of The Phoenix Companies, Inc. (NYSE:PNX) and currently hold any of those NYSE:PNX shares, you have certain options and you should contact the Shareholders Foundation, Inc.
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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
November 04, 2015 (Shareholders Foundation) - An investor who currently holds shares of The Phoenix Companies, Inc. (NYSE:PNX), filed a lawsuit in effort to halt the proposed takeover of The Phoenix Companies, Inc. by Nassau Reinsurance Group Holdings L.P.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:PNX stockholders by agreeing to sell The Phoenix Companies, Inc. too cheaply via an unfair process to Nassau Reinsurance Group Holdings L.P.
On September 29, 2015, Nassau Reinsurance Group Holdings L.P. and The Phoenix Companies, Inc.(NYSE:PNX) announced that they have entered into a definitive agreement in which Nassau will acquire Phoenix for $37.50 per share in cash, or aggregate equity purchase price of $217.2 million.
However, the plaintiff claims that the proposed consideration NYSE:PNX shareholders will receive is grossly inadequate and undervalues The Phoenix Companies. In addition, the plaintiff claims that the process is also unfair to NYSE:PNX stockholders stockholders