Rigrodsky & Long, P.A. Investigates CNA Surety Corporation Buyout Proposal

  • Do you own CNA Surety Corporation common stock?
  • Did you purchase your shares prior to November 1, 2010?
  • Do you feel CNA Financial Corporation's proposal to acquire the rest of CNA Surety Corporation it does not already own is unfair?
  • Do you want to discuss your rights?

If the answer to these questions is "yes," please contact the deal lawyers at Rigrodsky & Long, P.A. ("R & L") today to schedule a FREE consultation. Just call us, or fill out our contact form so that we can call at your convenience. Your consultation will not create any obligation to use our services at any time.

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R & L is national law firm with decades of combined legal experience. R & L is investigating potential claims against the board of directors of CNA Surety Corporation concerning the Company’s receipt of a proposal from CNA Financial Corporation to acquire the remainder of the Company it does not already own in a transaction valued at approximately $375 million.

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Rigrodsky & Long, P.A. Investigates CNA Surety Corporation Buyout Proposal

Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of CNA Surety Corporation (“CNA Surety” or the “Company”) (NYSE: SUR) concerning the Company’s receipt of a proposal from CNA Financial Corporation (“CNA Financial”) (NYSE: CNA) to acquire the remainder of the Company it does not already own in a transaction valued at approximately $375 million (the “Proposal”).

The investigation concerns whether CNA Surety’s board of directors is adequately shopping the Company and working to obtain the best price possible for CNA Surety’s shareholders. The Proposal contemplates the acquisition of all of the outstanding shares of common stock of CNA Surety not currently owned by CNA Financial for $22.00 per share in cash. CNA Financial’s subsidiaries already own approximately 62% of the Company’s outstanding shares. In addition, CNA Financial has also informed CNA Surety that it is only interested in acquiring the remaining shares of CNA Surety, and has no interest in a disposition of its controlling interest. Indeed, according to Yahoo! Finance, at least one analyst has set a price target of $23.00 per share for CNA Surety common stock.

If you own the common stock of CNA Surety and purchased your shares before November 1, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

R & L, with offices in Delaware and New York, litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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