National Western Life Group Inc. and its directors allegedly filed a misleading proxy statement related to the company’s proposed sale to Prosperity Life Group, according to a shareholder complaint.
The proxy filed Nov. 30 was incomplete and misleading, allegedly omitting key details about the proposed $1.9 billion acquisition by Prosperity Life Group, according to the complaint filed Wednesday in US District Court for the District of Delaware.
Investors in National Western would receive $500 per share of company stock in the deal, which represents an 87% premium over the company’s share price as of May 16, according to a ...
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