An investigation on behalf of investors of Infinity Property and Casualty Corporation (NASDAQ:IPCC) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 03/23/2018 -- An investigation was announced for investors in NASDAQ: IPCC shares over 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 investigation by a law firm concerns whether certain directors of Infinity Property and Casualty Corporation breached their fiduciary duties owed to NASDAQ: IPCC investors in connection with the proposed acquisition.
Birmingham, AL based Infinity Property and Casualty Corporation, through its subsidiaries, provides personal auto insurance products in the United States. 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 investigation concerns whether the offer is unfair to NASDAQ: IPCC stockholders. More specifically, the investigation concerns whether the Infinity Property and Casualty Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On March 22, 2018, shares of Infinity Property and Casualty Corporation (NASDAQ: IPCC) closed at $117.30 per share.
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