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Wolf Haldenstein Investigating NYMAGIC, Inc. Board

^{Published on 2010-07-16 10:50:49 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of NYMAGIC, Inc. (aNYMAGICa or the aCompanya) (NYSE:NYM) arising out of the proposed acquisition of NYMAGIC by ProSight Specialty Insurance Holdings, Inc. (aProSighta).

On Thursday, July 15, 2010, NYMAGIC announced that ProSight will acquire NYMAGIC pursuant to an all cash offer. Under the terms of the agreement, NYMAGIC stockholders will receive cash of $25.75 in exchange for each share of NYMAGIC common stock. However, the Company may not have adequately shopped itself before entering into this transaction and, pursuant to this proposed transaction, ProSight may be underpaying for NYMAGIC, thus unlawfully harming NYMAGIC shareholders.

Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website (http://www.whafh.com) for more information about the firm.

If you own NYMAGIC common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:

Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.