April 23, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares ProAssurance Corporation (NYSE:PRA) was announced concerning whether certain ProAssurance officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns whether certain ProAssurance officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval of the Companys 2014 Equity Incentive Plan.

In the Proxy Statement filed by ProAssurance Corporation with the Securities and Exchange Commission the Board of Directors recommends that ProAssurances shareholders vote to approve the ProAssurance Corporation 2014 Equity Incentive Plan, which would authorize the issuance of up to 4,000,000 shares of Common Stock

According to the investigation the issuance of the additional shares could have a severe dilutive effect on NYSE:PRA common stock.

ProAssurance Corporation (NYSE:PRA) reported that its annual Total Revenue declined from $716.78 million in 2011 to $715.85 million in 2012 and that its respective Net Income decreased from $287.10 million to $275.47 million.

The total compensation of certain top officials at ProAssurance Corporation increased between 2011 and 2012. For instance, the CEOs total compensation rose from over $3.13 million in 2011 to over $3.91 million in 2012 and the CFOs total pay increased from over $1.39 million in 2011 to over $1.55 million in 2012.

On April 23, 2013, shares of ProAssurance Corporation (NYSE:PRA) closed at $48.48 per share.