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SOURCE Brodsky & Smith, LLC
BALA CYNWYD, Pa., Feb. 10, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of National Interstate Corporation, Inc. ("National Interstate" or the "Company") (Nasdaq: NATL) relating to the acquisition by Great American Insurance Company ("Great American").
Under the terms of the transaction, National Interstate shareholders will receive only $28.00 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 sale price at $28.98 after the transaction was announced on February 7, 2014 and traded at $35.31 on July 17, 2013. In addition, the premium being paid to National Interstate shareholders is substantially below the premium that has been paid in comparable transaction.
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 firstname.lastname@example.org, 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.