The Law Firm of Levi & Korsinsky, LLP Announces Investigation Into Possible Breaches of Fiduciary Duty by the Board of Penn Millers Holding Corporation in Connection with Sale of the Company to ACE Limited

NEW YORK, Sept. 21, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Penn Millers Holding Corporation ("Penn Millers" or the "Company") (NASDAQ: PMIC) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to a subsidiary of ACE Limited (NYSE: ACE).  Under the terms of the transaction, Penn Millers shareholders will receive $20.50 per share in cash for each share of Penn Millers stock they own.  The transaction has a total value of approximately $107 million.

Click here to learn how to join the action: http://www.zlk.com/penn-millers-pmic, or call: 877-363-5972.

The investigation concerns whether the Penn Millers Board of Directors breached their fiduciary duties to Penn Millers stockholders by failing to adequately shop the Company before entering into this transaction and whether ACE Limited is underpaying for Penn Millers shares, thus unlawfully harming Penn Millers stockholders.

If you own common stock in Penn Millers and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://www.zlk.com.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C.  The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.  The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT: 
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky

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