July 13, 2012
Bernstein Liebhard LLP is investigating whether the Board of Directors of Presidential Life Corporation (“Presidential Life” or the “Company”) (NASDAQ: PLFE) breached its fiduciary duty to its shareholders in agreeing to sell Presidential Life to Athene Holding Ltd.’s wholly owned subsidiary, Athene Annuity & Life Assurance Company.
Under the terms of the agreement, Presidential Life shareholders will receive $14.00 in cash for each share they own. The investigation is focused on the potential unfairness of the price to Presidential Life shareholders and the process by which the Presidential Life Board of Directors considered and approved the transaction.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last nine years.