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Case Status:    ONGOING    
On or around 05/30/2018 (Ongoing date of last review)

Filing Date: May 07, 2018

According to the Complaint, Infinity Property and Casualty Corp. ("Infinity") was incorporated in 2002 and it is a holding company that provides insurance, through its subsidiaries, for personal auto with a concentration on non-standard risks, commercial auto and classic collectors.

Infinity offers personal and commercial auto insurance primarily in four key states: Arizona, California, Florida, and Texas. Infinity’s target customers are urban and Hispanic drivers. This narrow geographic and demographic focus allows Infinity to concentrate its efforts and resources on providing competitively priced products to underserved segments while generating adequate returns for its shareholders.

This action stems from a proposed transaction announced on February 13, 2018 (the “Proposed Transaction”), pursuant to which Infinity will be acquired by Kemper Corporation (“Parent”) and its wholly owned subsidiary, Vulcan Sub, Inc. (“Merger Sub,” and together with Parent, “Kemper”).

On February 13, 2018, Infinity’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with Kemper. Pursuant to the terms of the Merger Agreement, if the Proposed Transaction is approved by Infinity’s and Parent’s shareholders and completed, each share of Infinity common stock will be cancelled and converted into, at the election of the holder of such share, subject to proration and adjustment as described in the Merger Agreement, either (i) mixed consideration consisting of $51.60 in cash and 1.2019 shares of Kemper common stock, (ii) cash consideration consisting of $129.00, or (iii) stock consideration consisting of 2.0031 shares of Kemper common stock.

On April 4, 2018, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction, which was subsequently amended in a Form S-4/A filed with the SEC on April 24, 2018 (as amended, the “Registration Statement”).

The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Prop. & Casualty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IPCC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Ohio
DOCKET #: 18-CV-00315
JUDGE: Hon. Michael R. Barrett
DATE FILED: 05/07/2018
CLASS PERIOD START: 02/13/2018
CLASS PERIOD END: 05/07/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of John C Camillus, LLC
    PO Box 141410 , Law Offices of John C Camillus, LLC , OH 43214
    614-558-7254 614-559-6731 ·
  2. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  3. RM Law, P.C.
    1055 Westlakes Drive, Suite 3112, RM Law, P.C., PA 19312
    (484) 324-6800 ·
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