WILMINGTON, Del., Aug. 24, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a class action lawsuit has been filed by another law firm on behalf of stockholders of StanCorp Financial Group, Inc. (NYSE:SFG) (“StanCorp” or the “Company”) seeking to challenge the Company’s recently announced merger.
If you would like to join the class action, please visit our website or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
On July 23, 2015, StanCorp and Meiji Yasuda Life Insurance Company (“Meiji Yasuda”) announced the signing of a definitive merger agreement pursuant to which Meiji Yasuda will acquire StanCorp in a merger worth $5.0 billion. As a result of the merger, StanCorp shareholders are only anticipated to receive $115.00 per share in cash in exchange for each share of StanCorp. The process leading up to the announcement of the merger appears to have significant conflicts of interest, thus making the process and consideration unfair. StanCorp’s senior leadership is expected to remain in place and continue their employment after the consummation of the merger. Additionally, StanCorp’s management will receive millions of dollars in change-of-control payments for currently unvested stock options, performance units and restricted shares upon consummation of the merger.
On August 3, 2015, a StanCorp shareholder represented by another law firm filed a class action complaint challenging StanCorp’s merger with Meiji Yasuda. The complaint was filed in the Oregon Circuit Court, Multnomah County, Case No. 15-CV-20372.
If you own shares of StanCorp and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/stancorp-financial-class-action-investigation or contact Craig J. Springer, Esq. at cspringer@andrewsspringer.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – www.linkedin.com/company/andrews-&-springer-llc, Twitter – www.twitter.com/AndrewsSpringer or Facebook - www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.