SAN DIEGO
and JACKSONVILLE, Fla., Aug. 13,
2014 /PRNewswire/ -- Shareholder rights attorneys at
Robbins Arroyo LLP are investigating the proposed acquisition of
Fortegra Financial Corporation (NYSE: FRF) by Tiptree Financial
Inc. (NASDAQ: TIPT). On August 12,
2014, the companies announced the signing of a definitive
merger agreement pursuant to which Tiptree Financial will acquire
all outstanding shares of Fortegra common stock. Under the
terms of the agreement, Fortegra shareholders will receive
$10.00 per share in cash for each
Fortegra common stock they hold.
Is the Proposed Acquisition Best for Fortegra and Its
Shareholders?
Robbins Arroyo LLP's investigation focuses on whether the board
of directors at Fortegra is undertaking a fair process to obtain
maximum value and adequately compensate its shareholders.
As an initial matter, on August 11,
2014, Fortegra released its earnings for the second quarter
of 2014, reporting strong financial results. Specifically, the
company reported an increase in total revenue by $3.6 million, or 4.2%, as well as an increase in
net revenues by 5.2% to $27.3 million
from continuing operations, compared to the same period in 2013. In
announcing these results, Richard S.
Kahlbaugh, Fortegra's Chairman, President, and Chief
Executive Officer, remarked, "The quarter reflects our continued
success and we believe that we are well positioned for future
growth. Moreover, we remain on target to meet our previously
provided guidance."
In light of these facts, Robbins Arroyo LLP is examining
Fortegra's board of directors' decision to sell the company now
rather than allow shareholders to continue to participate in the
company's continued success and future growth prospects.
Fortegra shareholders have the option to file a class action
lawsuit to ensure the board of directors obtains the best possible
price for shareholders and the disclosure of material
information. Fortegra shareholders interested in information
about their rights and potential remedies can contact attorney
Darnell R. Donahue at (800)
350-6003, ddonahue@robbinsarroyo.com, or via the shareholder
information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The law
firm represents individual and institutional investors in
shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1
billion of value for themselves and the companies in which
they have invested.
Attorney Advertising. Past results do not guarantee a
similar outcome.
Contact:
Darnell R. Donahue
Robbins Arroyo LLP
ddonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP
