NEW YORK, Feb. 08, 2023 (GLOBE NEWSWIRE) -- The law firm of Wohl & Fruchter LLP is investigating whether the directors of Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo”) acted in the best interests of Argo shareholders in approving the sale of Argo to Brookfield Reinsurance (“Brookfield”) for $30.00 per share in cash.
If you remain an Argo shareholder and have questions about your legal rights, you may contact our firm at the following link to discuss your options at no charge:
https://wohlfruchter.com/cases/argo-group-international-holdings/
Alternatively, you may contact us by phone at 866-833-6245, or via email at alerts@wohlfruchter.com.
Why is there an investigation?
On February 8, 2023, Argo announced that it had agreed to be acquired by Brookfield for $30.00 per share in cash. The agreement has been approved by the Argo board of directors (“Board”).
“Our investigation concerns whether Argo’s Board acted in the best interests of Argo shareholders in approving the sale,” explained Joshua Fruchter, one of the firm’s name partners. “This includes whether the acquisition price adequately compensates Argo shareholders, and whether all material information regarding the transaction has been fully disclosed.”
Notably, the deal price is well below the 52-week high of $51.87 per share at which Argo closed on February 8, 2022, which suggests that Brookfield may be taking advantage of the temporary market downturn to acquire Argo at an unfair price.
About Wohl & Fruchter
Wohl & Fruchter LLP, with offices in New York City and Monsey, has for over a decade been representing investors in litigation arising from fraud and other corporate misconduct, and recovered hundreds of millions of dollars in damages for investors. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
Contact:
Wohl & Fruchter LLP
Joshua E. Fruchter
Toll Free 866.833.6245
alerts@wohlfruchter.com
www.wohlfruchter.com
