Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of EMC Insurance Group Inc. (NASDAQ: EMCI) to Employers Mutual Casualty Company (“EMCC”). Under the terms of the transaction, EMCC will acquire all remaining shares of EMCI it does not currently own for $36.00 per share. EMCC currently owns 55% of EMCI’s outstanding shares.
The EMCI merger investigation concerns whether the Board of EMCI breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether EMCC is underpaying for EMCI shares, thus unlawfully harming EMCI shareholders.
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