INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of Eastern Insurance Holdings, Inc. (EIHI) Over the Proposed Sale of the Company to ProAssurance Corporation (PRA)
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Eastern Insurance Holdings, Inc. (“Eastern Insurance” or the “Company”) (NasdaqGS: EIHI) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to ProAssurance Corporation (NasdaqGS: PRA) in a cash deal valued at approximately $205 million. Under the terms of the proposed transaction, Eastern Insurance’s stockholders will receive $24.50 for each share of Eastern Insurance common stock they own.
The investigation focuses on whether Eastern Insurance’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Eastern Insurance’s shareholders.
If you own common stock in Eastern Insurance and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.