PHOENIX ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of The Phoenix Companies, Inc.; Encourages Investors to Contact the Firm for Additional Information

Business Wire

SAN DIEGO--(BUSINESS WIRE)-- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of The Phoenix Companies, Inc. (NYSE: PNX) breached their fiduciary duties in connection with the proposed sale of the Company to Nassau Reinsurance Group Holdings L.P.

Additional Information:
Phoenix provides life insurance and annuity products in the United States.

On September 29, 2015, Phoenix announced it had signed a definitive merger agreement with Nassau. Under the terms of the agreement, Nassau will acquire Phoenix for $37.50 per share in cash, or total equity purchase price of $217.2 million.

The investigation concerns whether Phoenix’s board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Phoenix’s shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration, especially given that the stock traded above $70.00 earlier this year.

If you are a shareholder of Phoenix and believe the proposed buyout price is too low or you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-814-4471. If emailing, please include a phone number where you can be reached.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.