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Management Buyout of CNA Surety Corp. Investigated by Tripp Levy PLLC on Behalf of CNA Surety Shareholders

^{Published on 2010-11-01 05:40:51 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of CNA Surety Corp. (NYSE: SUR). CNA Financial Corporation (NYSE: CNA) announced today that it has proposed to acquire all of the outstanding shares of common stock of CNA Surety that are not currently owned by CNA Financial for $22.00 per share in cash.. CNA Financial currently owns approximately 62% of the outstanding shares of CNA Surety common stock.

The investigation concerns, among other things, whether the consideration to be paid to CNA Surety shareholders is grossly unfair, inadequate, and substantially below the fair or inherent value of CNA Surety. Indeed, analysts have projected that CNA Suretya™s true inherent value is at least $24 per share. The investigation further concerns whether CNA Financial, as the controlling shareholder of the company, as well as the board of directors of CNA Surety may have breached their fiduciary duties by not acting in CNA Surety shareholders' best interests in connection with the sale process of CNA Surety. Indeed, CNA Financial has informed CNA Surety that it is only interested in acquiring the remaining shares of CNA Surety, and has no interest in a sale of its controlling interest in CNA Surety to a third party.

If you own CNA Surety 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

Tripp Levy
Tripp Levy PLLC
125 East 82^nd Street
9^th Floor
New York, New York
Toll Free: 877-772-3975
Email: [ contact@tripplevy.com ]

Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.

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