Faruqi & Faruqi Investigation: The Phoenix Companies Inc.
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of The Phoenix Companies Inc. (“Phoenix” or the “Company”) (NYSE:PNX) for potential breaches of fiduciary duties in connection with the sale of the Company to Nassau Reinsurance Group Holdings, L.P. for approximately $217.2 million in a cash transaction.
The Company’s stockholders will only receive $37.50 for each share of Company common stock they own. However, the Company stock has traded as high as $70.92 in the past 52 weeks as well as the Revenue and Book Value multiples are below the averages of comparable transactions.
If you own common stock in Phoenix and wish to obtain additional information and protect your investments free of charge, please contact Faruqi & Faruqi's Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.