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The Law Firm of Levi & Korsinsky, LLP Launches an Investigation into the Possible Breaches of Fiduciary Duty by the Board of CN

^{Published on 2010-11-02 07:00:24 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of CNA Surety Corporation (aCNA Suretya or the aCompanya) (NYSE: SUR) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to CNA Financial Corporation (aCNA Financiala) (NYSE: CNA). Under the terms of the transaction, CNA Surety shareholders will receive $22.00 in cash per share for a total transaction value of approximately $375 million. CNA Financial, through its subsidiaries, currently owns approximately 62% of the outstanding shares of CNA Surety common stock.

Click here to learn how to join the action: [ http://www.zlk.com/cnasurety-sur.html ], or call: 877-363-5972.

The investigation concerns whether the CNA Surety Board of Directors breached their fiduciary duties to CNA Surety stockholders by failing to adequately shop the Company before entering into this transaction and whether CNA Financial is underpaying for CNA Surety shares, thus unlawfully harming CNA Surety stockholders. In particular, at least analyst set a price target for CNA Surety stock at $23.00 per share. Furthermore, CNA Financial has informed CNA Surety that it is only interested in acquiring the remaining shares of CNA Surety and has no interest in selling its controlling interest in CNA Surety to a third party.

If you own common stock in CNA Surety and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit [ http://www.zlk.com/cnasurety-sur.html ].

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below.