SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of The Phoenix Companies, Inc. – PNX

NEW YORK, NY / ACCESSWIRE / September 29, 2015 / Pomerantz LLP is investigating claims on behalf of investors of The Phoenix Companies, Inc. (“The Phoenix Companies” or the “Company”) (NYSE: PNX) (ISIN: US71902E6041) (CUSIP: 71902E604) concerning the proposed acquisition of The Phoenix Companies by Nassau Reinsurance Group Holdings L.P.

The Phoenix Companies shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext. 9980.

The investigation concerns whether The Phoenix Companies directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed acquisition, The Phoenix Companies shareholders will receive $37.50 per share in cash for each share of The Phoenix Companies common stock. However, the Revenue and Book Value multiples are below the averages of comparable transactions, according to a Bloomberg analysis. Additionally, the stock traded above the offer price as recently as in April 2015.

Pomerantz LLP, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz LLP pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz LLP continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.

SOURCE: Pomerantz, LLP

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