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The Shuman Law Firm Announces an Investigation into the Proposed Acquisition of CNA Surety Corporation

^{Published on 2010-11-05 18:40:48 - Market Wire}
 

BOULDER, Colo.--([ BUSINESS WIRE ])--[ The Shuman Law Firm ] today announced that it is investigating potential claims against the board of directors of CNA Surety Corporation (aCNA Suretya or the aCompanya) (NYSE:SUR) related to the proposed acquisition of the Company by CNA Financial Corporation (aCNA Financiala). The proposed cash transaction is valued at approximately $375 million.

Under the terms of the proposal, CNA Financial would acquire all of the outstanding shares of CNA Surety common stock not currently owned by subsidiaries of CNA Financial for $22.00 per share in cash. CNA Financial, through its subsidiaries, currently owns approximately 62% of the outstanding shares of CNA Surety common stock. The investigation concerns possible breaches of fiduciary duty and other violations of law related to consideration of the proposal by CNA Suretya™s board of directors.

If you currently own shares of CNA Surety and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Rusty E. Glenn toll-free at 866-974-8626 or email Mr. Glenn at [ rusty@shumanlawfirm.com ].

The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.