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Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of NYMAGIC, INC.

^{Published on 2010-07-15 18:40:51 - Market Wire}
 

BENSALEM, Pa.--([ BUSINESS WIRE ])--Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of NYMAGIC, INC. (aNYMAGICa or the aCompanya) (NYSE:NYM) related to the Companya™s agreement to be acquired by ProSight Specialty Insurance Holdings, Inc. The proposed going-private transaction is valued at approximately $230 million.

Under the terms of the definitive agreement entered into by the parties, NYMAGIC stockholders will receive $25.75 per share in cash for each share of the Companya™s common stock they own. The Companya™s shares traded as high as $24.72 per share as recently as April 26, 2010. Completion of the transaction is expected to occur in the fourth quarter of 2010. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by NYMAGICa™s board of directors.

If you own shares of NYMAGIC, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at 215-638-4847, Toll Free at 888-638-4847, or by email to [ howardsmith@howardsmithlaw.com ], or visit our website at [ http://www.howardsmithlaw.com ].