A lawsuit was filed for investors in shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC) in connection with the proposed takeover and NASDAQ: IPCC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/18/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC), filed a lawsuit against the takeover of Infinity Property and Casualty Corporation.
Investors who purchased shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC) and currently hold any of those NASDAQ: IPCC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ: IPCC stockholders by agreeing to sell Infinity Property and Casualty Corporation cheaply via an unfair process.
On February 13, 2018, Kemper Corporation (NYSE: KMPR) and Infinity Property and Casualty Corporation (NASDAQ: IPCC) announced that they have entered into a merger agreement under which Kemper will acquire Infinity in a cash and stock transaction valued at approximately $1.4 billion, or $129.00 per share.
However, the plaintiff claims that the proposed consideration NASDAQ: IPCC shareholders will receive is grossly inadequate and undervalues A Infinity Property and Casualty Corporation. In addition, the plaintiff alleges that the process is also unfair NASDAQ: IPCC stockholders. Indeed
Those who are current investors in Infinity Property and Casualty Corporation (NASDAQ: IPCC) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com