WILMINGTON, Del., Jan. 26, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC , a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of Meadowbrook Insurance Group, Inc. (NYSE: MIG ) ("Meadowbrook" or the "Company") seeking to challenge the Company's recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On December 30, 2014, Meadowbrook and Fosun International Limited ("Fosun") announced the signing of a definitive merger agreement pursuant to which Fosun will acquire Meadowbrook in a merger worth $433 million. As a result of the merger, Meadowbrook shareholders are only anticipated to receive $8.65 per share in cash in exchange for each share of Meadowbrook. While the Company claims that shareholders will receive a premium for their shares, the Company has a book value of $8.94 per share as of September 30, 2014, roughly $0.29 more than what shareholders are expected to receive. The process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. As indicated by the Company, Meadowbrook's senior leadership is expected to remain in place after the consummation of the merger.
On January 7, 2015, a Meadowbrook shareholder represented by another law firm filed a class action complaint challenging Meadowbrook's merger with Fosun. The complaint was filed in the U.S. District Court, Eastern District of Michigan, Southern Division, Case No. 2:15-cv-10057.
If you own shares of Meadowbrook and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/MIG or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com , or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc , Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com . This notice may constitute Attorney Advertising.
Craig J. Springer, Esq. Call Toll Free: 1-800-423-6013
