BALA CYNWYD, Pa., July 11, 2023 (GLOBE NEWSWIRE) -- Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of American Equity Investment Life Holding Company (“American Equity” or the “Company”) (NYSE – AEL) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to Brookfield Asset Management Ltd. (“Brookfield”). Under the terms of the Agreement, American Equity shareholders will receive only $38.85 in cash and 0.49707 of a Brookfield class A voting share for each share of American Equity stock they own.
The investigation concerns whether the American Equity Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Brookfield is paying too little for the Company. Brookfield already owns 20% of American Equity.
If you own shares of American Equity stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, by email at clients@brodsky-smith.com, calling toll free 855-576-4847, or visiting https://www.brodskysmith.com/cases/investigation-american-equity-investment-life-holding-company-nyse-ael/.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
