The Law Firm of Weiss & Lurie Investigates Transatlantic Holdings
June 13, 2011 at 17:02 PM EDT
Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Transatlantic Holdings, Inc. Co. (NYSE: TRH), arising from its proposed merger with Switzerland’s Allied World Assurance Company Holdings AG (“AWH”) (NYSE: AWH).
Upon completion of the merger, which is expected to take place in the fourth quarter of 2011, Transatlantic shareholders will receive 0.88 AWH shares for each share. This represents a value of approximately $49 per Transatlantic share based on the current trading price of AWH.
Weiss & Lurie is investigating whether Transatlantic’s Board acted in the best interests of shareholders in approving the transaction. A number of analysts have set Transatlantic’s price target at and above $53, with at least two setting a high target of $60. Transatlantic’s book value per share is $68.83 as of December 31, 2010 and it traded above $50 per share as recently as in April 2011.
Post-merger, Mike Sapnar, Transatlantic’s current Executive Vice President and Chief Operating Officer, will serve as President and CEO of Global Reinsurance, Steven Skalicky will remain as CFO, Kenneth Apfel will remain as Chief Actuary, and six of Transatlantic’s seven directors may join the merged company’s Board, including Sapnar and Richard Press, Transatlantic’s Chairman, who will retain his position as Chairman.
If you own Transatlantic shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771.
Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing, consumer fraud, or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.
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