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Faruqi & Faruqi, LLP Announces Shareholder Investigation Related to the CNA Surety Corp. Shareholder Squeeze Out - SUR

^{Published on 2010-11-06 08:36:37 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of CNA Surety Corp. (aCNA Suretya or the aCompanya) (NYSE: SUR) for potential breaches of fiduciary duties in connection with the potential going private proposal by CNA Financial Corp. (aCNA Financiala) (NYSE: CNA) wherein CNA Financial will acquire all of the outstanding shares of common stock of CNA Surety that are 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 shares outstanding of CNA Surety common stock. According to Yahoo! Finance, at least one financial analyst values the Companya™s common stock at $24.00 per share. The transaction is structured as a tender offer which may obviate the need for a shareholder vote.

Request more information now by clicking here: [ www.faruqilaw.com/SUR ]

Whether the CNA Suretya™s Board of Directors breached their fiduciary duties to CNA Suretya™s stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues CNA Suretya™s shares and by how much this proposed transaction undervalues the Company to the detriment of CNA Surety shareholders are the key focus of this investigation.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, through all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firma™s clients.

If you own common stock in CNA Surety and wish to obtain additional information, please visit us at [ www.faruqilaw.com/SUR ] or contact Juan E. Monteverde, Esq. either via e-mail at [ jmonteverde@faruqilaw.com ] or by telephone at (877) 247-4292 or (212) 983-9330.

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