National Interstate Corporation Merger Litigation (Nasdaq: NATL)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of National Interstate Corporation - NATL
BALA CYNWYD, February 21, 2014 (Business Wire) –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of National Interstate Corporation. (“National Interstate” or the “Company”) (Nasdaq –NATL-News) relating to the acquisition by Great American Insurance Company (“Great American”).
Under the terms the offer, National Interstate shareholders will receive only $30.00 in cash for each share of National Interstate stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of National Interstate for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as National Interstate stock traded above the offer price at $35.31 on July 17, 2013.
In addition, it has been reported that four independent directors have stated they were not being given the opportunity to properly examine the transaction, the National Interstate Board has expressed no opinion on if shareholders should accept the offer, and the financial advisor retained by the Company has declined to deliver an opinion of the fairness of the offer.
If you own shares of National Interstate common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com, or by visiting http://brodsky-smith.com/719-natl-national-interstate-corporation.html, calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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