NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of United PanAm Financial Corporation (“UPFC” or the “Company”) (OTC: UPFC.PK) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Guillermo Bron, Chairman of the Board of Directors of UPFC, and affiliates of Pine Brook Road Partners LLC. Under the terms of the transaction, UPFC shareholders will receive $7.05 in cash per share for a total transaction value of approximately $110 million. Affiliates of Mr. Bron, which own approximately 38% of the shares of common stock, have agreed to vote in favor of the transaction. In addition, the directors comprising the Special Committee of UPFC, who together own approximately 4% of the shares of common stock, have also agreed to vote their shares in favor of the transaction.
The investigation concerns whether the UPFC Board of Directors breached their fiduciary duties to UPFC stockholders by failing to adequately shop the Company before entering into this transaction and whether Mr. Bron and Pine Brook are underpaying for UPFC shares. For the most recent quarter, the Company reported a book value of $8.54 per share.
If you own common stock in UPFC and wish to obtain additional information, please contact please contact Mr. Vincent Wong either via email email@example.com, by telephone at 212.584.2740, or visit http://www.wongesq.com/unitedpanamfinancial.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights and represents investors in the United States as well as in China. Attorney advertising. Prior results do not guarantee similar outcomes.