Faruqi & Faruqi, LLP Announces Investigation of Harleysville Group Inc. (HGIC)
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Harleysville Group Inc. (“Harleysville” or the “Company”) (NASDAQ: HGIC) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Nationwide Mutual Insurance Company in an all-cash deal valued at about $1.63 billion. Under the terms of the proposed transaction, Harleysville stockholders will receive $60 in cash per each share of Harleysville they own. The transaction is expected to close in early 2012.
Whether Harleysville’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 the proposed transaction undervalues Harleysville’s shares and by how much this proposed transaction undervalues the Company to the detriment of Harleysville’s shareholders are the key focus of this investigation.
If you own common stock in Harleysville and wish to obtain additional information, please 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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