SOURCE: Levi & Korsinsky, LLP

Levi & Korsinsky, LLP

August 01, 2012 16:24 ET

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Presidential Life Corporation in Connection With the Sale of the Company to Athene Holding Ltd.

NEW YORK, NY--(Marketwire - Aug 1, 2012) - Levi & Korsinsky notifies investors of Presidential Life Corporation ("Presidential Life" or the "Company") (NASDAQ: PLFE) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Athene Holding Ltd. A complaint was filed in New York state court.

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Under the terms of the transaction, Presidential Life shareholders will receive $14.00 per share of Presidential Life stock they own. The transaction has an approximate total value of $415 million. The claims concern whether the Presidential Life Board of Directors breached their fiduciary duties to Presidential Life stockholders by failing to adequately shop the Company before entering into this transaction and whether Athene Holding Ltd. is underpaying for Presidential Life shares, thus unlawfully harming Presidential Life stockholders. In particular, Presidential Life reported a Book Value of $26.95 per share for the most recent quarter.

If you own common stock in Presidential Life and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or

Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 24th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171