FPIC Insurance Group, Inc.
Robbins Umeda LLP Is Investigating FPIC Insurance Group, Inc. Acquisition for Shareholders
Robbins Umeda LLP, a shareholder rights litigation firm, is interested in helping shareholders of FPIC Insurance Group, Inc. (NASDAQ: FPIC). The firm has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the board of directors of FPIC Insurance in connection with their efforts to sell the company to The Doctors Company.
On May 24, 2011, FPIC Insurance announced it has entered into a definitive agreement to be acquired by The Doctors Company. Under the terms of the agreement, FPIC Insurance shareholders will receive $42.00 in cash for each share of FPIC Insurance common stock held. The transaction is expected to be completed by the fourth quarter 2011.
The investigation focuses on whether FPIC Insurance’s board is undertaking a fair process to obtain maximum value and adequately compensate its shareholders in light of the company’s recent positive financial performance. For example, on May 4, 2011, FPIC Insurance reported strong first quarter 2011 results. Quarterly revenue beat analyst expectations, and the company reported operating earnings per share of $0.67 versus a consensus estimate of $0.63.
If you own stock in FPIC Insurance and would like more information about your shareholder rights, please complete the form below and we will contact you directly. We also welcome you to call us at 800-350-6003.