Faruqi & Faruqi, LLP Announces Investigation Related to the Tender Offer set to Expire on June 8, 2011 Relating to the CNA Su...
May 12 2011 - 8:11AM
Business Wire
Faruqi & Faruqi, LLP, a leading national securities firm
headquartered in New York City, announces an investigation into the
Board of Directors of CNA Surety Corp. (“CNA Surety” or the
“Company”) (NYSE: SUR) for potential breaches of fiduciary duties
in connection with the tender offer set to expire on June 8, 2011
and failure to disclose material information in the recommendation
statement schedule 14D-9 related to the potential going private
proposal by CNA Financial Corp. (“CNA Financial”) (NYSE: CNA) that
was filed with the S.E.C. on May 5, 2011. Furthermore, the price
for the sale of CNA Surety is also under investigation, which
offers CNA Surety shareholders $26.55 per share in cash in exchange
for each CNA Surety share they hold. According to Bloomberg, at
least one financial analyst values the Company’s common stock at
$30.00 per share
Request more information now by clicking here:
www.faruqilaw.com/SUR
Whether the CNA Surety’s Board of Directors breached their
fiduciary duties to CNA Surety’s stockholders by failing to
disclose all material information related to the transaction and
whether it also failed to maximize shareholder value and if so by
how much the sale undervalues the Company to the detriment of CAN
Surety shareholders, which are the key focus of this
investigation.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm is
focused on providing exemplary legal services in complex litigation
in the areas of securities, shareholder, antitrust and consumer
litigation, through all phases of litigation. The firm has an
experienced trial team which has achieved significant victories on
behalf of the firm’s clients.
If you own common stock in CNA Surety and wish to obtain
additional information, please visit us at www.faruqilaw.com/SUR or
contact Juan E. Monteverde, Esq. either via e-mail at
jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or
(212) 983-9330.
Attorney Advertising. (C) 2010 Faruqi & Faruqi, LLP. The law
firm responsible for this advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict a
similar outcome with respect to any future matter. We are happy to
discuss your particular case.
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