PMA Capital Corporation Merger Litigation
Law Office of Brodsky & Smith, LLC Announces Investigation of PMA Capital Corporation
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of PMA Capital Corporation (“PMA Capital” or the “Company”) (Nasdaq: PMACA – News) relating to the proposed acquisition by Old Republic International Corporation (“Old Republic”).
Under the terms of the transaction, PMA Capital shareholders would receive 0.55 shares of Old Republic common stock for each share of PMA Capital stock they own. The exchange rate may be adjusted, to not exceed 0.60 or be less than 0.50, depending on the price of Old Republic’s common stock preceding the closing of the merger. Based upon the prior closing price of Old Republic, the transaction values PMA Capital sock at approximately $7.10 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that PMA stock was trading at $7.43 a share as recently as May 13, 2010 and was trading at $7.18 a share on November 23, 2009
If you own shares of PMA Capital 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 email@example.com, or by calling toll free 877-LEGAL-90.
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