Faruqi & Faruqi, LLP Announces the Investigation of Symetra Financial Corporation (SYA) Over the Proposed Sale of the Company to Sumitomo Life Insurance Company
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Symetra Financial Corporation (“Symetra” or the “Company”) (NYSE:SYA) for potential breaches of fiduciary duties in connection with the sale of the Company to Sumitomo Life Insurance Company for approximately $3.8 billion in cash.
The Company’s stockholders will only receive $32.50, including dividends, for each share of Company common stock they own. However, the offer represents a negligible premium to Symetra’s August 14, 2015 opening price of $31.55 per share.
The investigation focuses on whether Symetra’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of Symetra’s shareholders.
If you own common stock in Symetra 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 email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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