SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of The First Marblehead Corporation And Encourages Investors To Contact The Firm For Additional Information

STEVENSON, Md.--(BUSINESS WIRE)--

The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of The First Marblehead Corporation FMD ("First Marblehead" or the "Company") relating to the proposed buyout of First Marblehead by FP Resources USA Inc.

Under the terms of the agreement, First Marblehead shareholders are anticipated to receive $5.05 in cash for each share of First Marblehead common stock held. The transaction may undervalue the Company and would result in no real gain or a loss for many long-term First Marblehead shareholders, especially given that the Company's 52-week high was $6.49.

The firm's investigation seeks to determine, among other things, whether the Company's Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company's shares of common stock.

If you currently own common stock of First Marblehead and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616.

Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

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