Faruqi & Faruqi, LLP Announces the Investigation of The Phoenix Companies Inc. (PNX) Over the Proposed Sale of the Company to Nassau Reinsurance Group Holdings, L.P.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Phoenix Companies Inc. (“Phoenix” or the “Company”) (NYSE:PNX) for potential breaches of fiduciary duties in connection with the sale of the Company to Nassau Reinsurance Group Holdings, L.P. for approximately $217.2 million in a cash transaction.
The Company’s stockholders will only receive $37.50 for each share of Company common stock they own. However, the Company stock has traded as high as $70.92 in the past 52 weeks as well as the Revenue and Book Value multiples are below the averages of comparable transactions.
If you own common stock in Phoenix and wish to obtain additional information and protect your investments free of charge, please fill out the form below or 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.
Please tell us about yourself by completing the form below and we will provide you with additional
information at no cost to you on how to join the Class Action.
* The submission of this form does not create an attorney-client relationship.
Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.