BALA CYNWYD, Pa., Jul 18, 2012 (BUSINESS WIRE) ?
Law office of Brodsky Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Presidential Life
Corporation (?Presidential Life? or the ?Company?)
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relating to the proposed acquisition by Athene Holding Ltd. (?Athene?).
Under the terms of the transaction, Presidential Life shareholders will
receive only $14.00 in cash for each share of Presidential Life stock
they own. The investigation concerns possible breaches of fiduciary duty
and other violations of state law by the Board of Directors of
Presidential Life for not acting in the Company?s shareholders? best
interests in connection with the sale process to Athene. The offer price
is substantially below the reported Book Value of the Company. As a
result, the transaction may have undervalued Presidential Life resulting
in harm to the Presidential Life shareholders.
If you own shares of Presidential Life stock and wish to discuss the
legal ramifications of the proposed transaction, or have any questions,
you may e-mail or call the law office of Brodsky Smith, LLC who will,
without obligation or cost to you, attempt to answer your questions. You
may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at
Brodsky Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004,
by e-mail at investorrelations@brodsky-smith.com
visiting
http://brodsky-smith.com/449-plfe-presidential-life-corporation.html ,
or by calling toll free 877-LEGAL-90.
SOURCE: Brodsky Smith, LLC
Brodsky Smith, LLC Jason L. Brodsky, Esquire Evan J. Smith, Esquire 877-LEGAL-90 investorrelations@brodsky-smith.com http://brodsky-smith.com/449-plfe-presidential-life-corporation.html
Copyright Business Wire 2012
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Article source: http://www.marketwatch.com/story/law-office-of-brodsky-smith-llc-announces-investigation-of-presidential-life-corporation-2012-07-18
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