SHAREHOLDER ALERT: Pomerantz LLP Investigates Claims That the Merger May Not Be in the Best Interest of Investors of Symetra Financial Corp. – SYA
NEW YORK, NY / CRWEPRESSRELEASE / August 11, 2015 /Pomerantz LLP is investigating claims on behalf of investors of Symetra Financial Corp. (“Symetra” or the “Company”) (NYSE: SYA) (ISIN: US87151Q1067) (CUSIP: 8751Q106) concerning the proposed acquisition of Symetra by Sumitomo Life Insurance Company.
Symetra shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 9980.
The investigation concerns whether the Symetra directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the proposed transaction, Symetra shareholders will receive $32.00 per share in cash at closing, plus a previously announced special dividend of $0.50 per share in cash, which is payable on August 28, 2015 to Symetra shareholders of record as of August 10, 2015. The amount of the special dividend was established in connection with the determination of the total combined transaction consideration. The total combined transaction consideration of $32.50 per share. However, certain members of the management team will stay on with the new company. Additionally, synergies may not be reflected in the offer price.
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.