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The Briscoe Law Firm Investigates CNA Surety Corporation for Shareholders

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  Published in Business and Finance on Tuesday, November 2nd 2010 at 7:16 GMT by Market Wire
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DALLAS--([ BUSINESS WIRE ])--[ The Briscoe Law Firm, PLLC ], founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of CNA Surety Corporation (aCompanya or aSURa) (NYSE: SUR) related to the proposed acquisition of the Company by CNA Financial Corporation.

On November 1, 2010, the companies announceda definitive merger agreement whereby SUR would be acquired by CNA Financial. Under the terms of the agreement, SUR stockholders will receive $22.00 in cash for each share of SUR common stock they hold. However, because this offer represents only a 14% premium over the closing price on October 29, 2010, this offer price may significantly undervalue the company. This investigation relates to possible breaches of fiduciary duty and other violations of state law by the Board of Directors of SUR for approving this transaction and whether SURa™s Board of Directors acted in the shareholdersa™ best interests.

If you currently own shares of SUR and would like additional information regarding this investigation, or if you have information regarding the allegations involving this transaction, please contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at [ patrick@powerstaylor.com ], or Willie Briscoe at The Briscoe Law Firm, PLLC, toll free (877) 397-5991, or via email at [ WBriscoe@TheBriscoeLawFirm.com ]. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.