NEW YORK, July 27, 2015 /PRNewswire/ -- The fairness of the
proposed acquisition of StanCorp Financial Group ("SFG" or the
"Company") by Meiji Yasuda Life Insurance Company ("Meiji Yasuda") is the subject of an
investigation by WeissLaw LLP, a national class action, shareholder
rights law firm. The investigation is focusing on possible
breaches of fiduciary duty and other violations of law by the Board
of Directors of SFG for agreeing to sell the Company to
Meiji Yasuda. On July 23,
2015, the Company announced it had reached a definitive agreement
for Meiji Yasuda to acquire SFG in a
transaction valued at approximately $5
billion. Under the terms of the agreement, SFG
shareholders will receive $115 in
cash for each SFG share they own.
WeissLaw is investigating whether SFG's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, on July 23, 2015, the
Company announced positive financial results. It reported net
income of $64.3 million in the second
quarter of 2015, as compared to $40.8
million in the same period of the previous year,
representing an increase of approximately 58% year-over
year.
Given these facts, WeissLaw is investigating whether SFG's Board
acted in the best interests of SFG's public shareholders by
actively shopping the Company to maximize shareholder value prior
to entering into the agreement with Meiji
Yasuda. If you own SFG shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin or Kelly
Keenan by telephone at (888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a
similar outcome.
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SOURCE WeissLaw LLP