Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors (“Board”) of United PanAm Financial Corporation (“United PanAm” or the “Company”) (NASDAQ: UPFC.PK) in connection with their efforts to sell the Company to United PanAm Chairman and Chief Executive Officer, Guillermo Bron and affiliates of Pine Brook Road Partners, LLC (“Pine Brook”). If the transaction is completed, United PanAm shareholders will receive $7.05 in cash for each share of United PanAm common stock they hold. The transaction is expected to be completed in the first quarter of 2011.
Robbins Umeda LLP’s investigation concerns whether United PanAm’s Board undertook a fair process to obtain fair consideration for all shareholders of United PanAm. Specifically, our investigation concerns whether members of the Company’s Board breached their fiduciary duties to United PanAm shareholders by failing to adequately shop the Company before entering into the transaction with Guillermo Bron and Pine Brook.
If you are a shareholder of United PanAm, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at firstname.lastname@example.org.