Finkelstein Thompson LLP Announces Investigation of Zenith National Insurance Corp.
19 Février 2010 - 9:47PM
Business Wire
Finkelstein Thompson LLP is investigating potential claims on
behalf of shareholders of Zenith National Insurance Corp. (“Zenith”
or the “Company”) (NYSE:ZNT) arising from the Company’s
announcement of its intent to be acquired by Fairfax Financial
Holdings Limited (“Fairfax”).
On February 18, 2010, Zenith announced that it entered into a
merger agreement with Fairfax, in which Fairfax will purchase all
common stock of the Company that it does not already own. Fairfax
currently owns an 8.23% stake in Zenith. Under the terms of the
agreement, Zenith shareholders will receive $38.00 in cash for
every share of Zenith stock that they own in an all-cash
transaction valued at approximately $1.4 billion. The deal is
expected to close in the second quarter of 2010.
The investigation is focused on the potential unfairness of the
price to Zenith shareholders, potential conflicts of interests on
the part of the Zenith board and management, and whether the Zenith
board took all appropriate steps to maximize shareholder value.
Indeed, at least one analyst has set a price target for Zenith
stock at $40.00 per share.
If you are interested in discussing your rights as a Zenith
shareholder, or have information relating to this investigation,
please contact Finkelstein Thompson's Washington, DC offices at
(877) 337-1050 or by email at contact@finkelsteinthompson.com.
Finkelstein Thompson LLP has spent over three decades delivering
outstanding representation to institutional and individual clients
in financial litigation, and has been appointed as lead or co-lead
counsel in dozens of shareholder class actions. Indeed, the firm
has served in leadership roles in cases that have recovered over $1
billion for investors and consumers.
To learn more about Finkelstein Thompson LLP, please visit our
web site at www.finkelsteinthompson.com. Attorney
advertising. Prior results do not guarantee similar outcomes.
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