FBL Financial Group, Inc.

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Ademi LLP is investigating FBL Financial (NYSE: FFG) for possible breaches of fiduciary duty and other violations of the law in its transaction with Farm Bureau Property & Casualty Insurance Company and Iowa Farm Bureau Federation.

Ademi LLP alleges FBL Financial’s financial outlook is improving and yet FBL Financial shareholders will receive only $56.00 per FBL Financial share they own.  The merger agreement unreasonably limits competing bids for FBL Financial by prohibiting solicitation of further bids, and imposing a termination penalty if FBL Financial accepts a superior bid. FBL Financial insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of FBL Financial’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for FBL Financial.