NEW YORK, Feb. 21, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of National Interstate Corporation ("National Interstate" or the "Company") concerning the proposed acquisition of the Company by the Great American Insurance Company ("Great American").
Under the terms of the proposed transaction, National Interstate shareholders would receive $30 per share in cash. On February 19, 2014, the board of directors of the Company determined to express no opinion in support of the transaction.
On February 20, 2014, it was reported in the media that National Interstate's independent directors do not support the transaction and have not had sufficient opportunity to review its terms.
Our investigation concerns whether the National Interstate board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own National Interstate shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin I. Sachs-Michaels, Esq.
Daniella Quitt, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP