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Faruqi & Faruqi, LLP Announces Update on the Shareholder Investigation Related to the CNA Surety Corp. Shareholder Proposed Goi

^{Published on 2010-11-30 14:36:03 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, announces updated information relating to its investigation into 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). On November 1, 2010, CNA Financial, who currently owns or controls approximately 62% of CNA Suretya™s common stock, announced that it had offered to acquire all of the outstanding shares of common stock of CNA Surety that it already does not own for $22.00 per share in cash. According to Bloomberg, at least one financial analyst values the Companya™s common stock at $30.00 per share. On November 23, 2010, CNA Suretya™s special committee of its Board of Directors retained a financial advisor and legal counsel to consider the CNA Financial proposal. However, the information disseminated to the public indicates that the proposal by CNA Financial is the only proposal that the special committee is currently considering.

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 designed to maximize shareholder value, whether CNA Suretya™s Board of Directors is failing to explore and consider all strategic alternatives, whether the CNA Financial offer 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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