Faruqi & Faruqi, LLP Announces Investigation of Transatlantic Holdings, Inc. – TRH
June 15, 2011 at 16:05 PM EDT
Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating and monitoring the conduct of the Board of Directors of Transatlantic Holdings, Inc. (“Transatlantic” or the “Company”) (NYSE: TRH) in relation to the sale of the Company to Allied World Assurance Company Holdings Ltd. (“Allied World”) (NYSE: AWH) for about $3.2 billion. The proposed transaction offers Transatlantic shareholders 0.88 of Allied World common stock for each share they own. The transaction values Transatlantic stock at approximately $51.10 per share based on prior closing prices, while Transatlantic reported a book value of $64.49 for the most recent quarter and at least one analyst has set a price target for Transatlantic stock at $60.00 per share.
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Whether the Board of Directors of Transatlantic breached their fiduciary duties to Transatlantic stockholders by failing to conduct an adequate and fair sales process to sell the Company prior to agreeing to this proposed transaction, whether the proposed transaction undervalues Transatlantic shares and by how much this proposed transaction undervalues the Company to the detriment of Transatlantic 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 firm’s clients.
If you own common stock in Transatlantic and wish to obtain additional information, please visit us at www.faruqilaw.com/TRH or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
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