SOURCE: Levi & Korsinsky LLP

Levi & Korsinsky LLP

June 22, 2011 20:37 ET

The Law Firm of Levi and Korsinsky, LLP Notifies Shareholders of Alleged Breaches of Fiduciary Duty by the Board of Transatlantic Holdings, Inc. in Connection With Merger With Allied World Assurance Company Holdings

NEW YORK, NY--(Marketwire - Jun 22, 2011) - Levi & Korsinsky notifies investors in Transatlantic Holdings, Inc. ("Transatlantic" or the "Company") (NYSE: TRH) of claims for breaches of fiduciary duty and other violations of state law against the Board of Directors of the Company in connection with the sale of the Company to Allied World Assurance Company Holdings, AG ("Allied World") (NYSE: AWH). Under the terms of the transaction, Transatlantic shareholders will receive 0.88 Allied World common shares for each Transatlantic share they own; this represents a value of approximately $51.10 per share, for a total transaction value of approximately $3.2 billion. A complaint was filed in New York State Supreme Court.

Click here to learn how to join the action: http://zlk.9nl.com/transatlantic-holdings-TRH, or call: 877-363-5972.

The claims concern whether the Transatlantic Board of Directors breached their fiduciary duties to Transatlantic stockholders by failing to adequately shop the Company before entering into this transaction and whether Allied World is underpaying for Transatlantic shares, thus unlawfully harming Transatlantic stockholders. In particular, Transatlantic has a Book Value of $64.49 for the last quarter, and at least one analyst has set a price target of $60.00 per share for Transatlantic stock.

If you own common stock in Transatlantic and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/transatlantic-holdings-TRH.

Levi & Korsinsky is a national firm with offices in New York, California and Washington D.C. The firm has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact Information

  • CONTACT:
    Levi & Korsinsky, LLP
    Joseph Levi, Esq.
    Eduard Korsinsky, Esq.
    30 Broad Street - 15th Floor
    New York, NY 10004
    Tel: (212) 363-7500
    Toll Free: (877) 363-5972
    Fax: (212) 363-7171
    www.zlk.com