SeaBright Holdings, Inc. Merger Litigation (NYSE: SBX)
Law Office of Brodsky & Smith, LLC Announces Investigation of SeaBright Holdings, Inc.
BALA CYNWYD, September 1, 2012/PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of SeaBright Holdings, Inc (“SeaBright” or the “Company”) (NYSE- SBX-News) relating to the proposed acquisition by Enstar Group Limited. (“Enstar”).
Under the terms of the transaction, SeaBright shareholders will receive only $11.11 in cash for each share of SeaBright stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of SeaBright for not acting in the Company’s shareholders' best interests in connection with the sale process to Enstar. The transaction may undervalue the Company as SeaBright has a reported book value of $16.51 per share for the most recent quarter.
If you own shares of SeaBright stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com or by calling toll free 877-LEGAL-90.
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