San Diego, CA -- (SBWIRE) -- 09/04/2012 -- An investigation on behalf of investors in Seabright Holdings Inc (NYSE:SBX) shares was announced concerning whether the offer by Enstar Group Limited to acquire Seabright Holdings Inc for $11.11 per NYSE:SBX share and the takeover process are unfair to investors in NYSE:SBX shares.
Investors who purchased shares of the Seabright Holdings Inc (NYSE:SBX) prior to August 28, 2012, and currently hold any of those NYSE:SBX shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of the Seabright Holdings Inc breached their fiduciary duties owed to NYSE:SBX investors in connection with the proposed acquisition.
On August 28, 2012, Enstar Group Limited (Nasdaq:ESGR) and SeaBright Holdings, Inc. (NYSE:SBX) announced that they have entered into a merger agreement under which Enstar Group Limited will acquire SeaBright Holdings, Inc for $11.11 per share in cash.
However, at least one analyst has set the high target price for NYSE:SBX shares at $12.00 per share.
Therefore, the investigation a law firm concerns whether the proposed transaction is unfair to NYSE:SBX stockholders. Specifically, the investigation focuses on whether the Seabright 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.
Those who are current investors in Seabright Holdings Inc (NYSE:SBX) and purchased their Seabright Holdings Inc shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego