NEW YORK, July 28, 2017 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of State National
Companies, Inc. (NASDAQ: SNC) ("SNC" or the "Company") in
connection with the proposed acquisition of the Company by Markel
Corporation (NYSE: MKL) ("MKL"). On July 26, 2017, the Company announced a definitive
agreement for MKL to acquire all outstanding shares of SNC in a
transaction valued at approximately $919
million. Under the terms of the agreement, the
Company's shareholders will receive $21.00 in cash for each SNC share they own.
WeissLaw is investigating whether SNC's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, at least one analyst set a target price of $22.00 per share. Additionally, SNC
recently announced double-digit year-over-year growth in premiums
earned, EBITDA, total revenues, and net income. It reported
premiums earned increased 15% to $36.5
million, EBITDA increased 17% to $19.4 million, total revenues increased 18% to
$59 million, and net income increased
19% to $11.5 million.
Given these facts, WeissLaw is investigating whether SNC's Board
acted in the best interests of its public shareholders to maximize
shareholder value prior to entering into the agreement. If
you own SNC shares and would like more information about your
rights or our investigation, or if you have information to share
with us, please contact Joshua
Rubin by telephone at (888) 593-4771 or by
email at stockinfo@weisslawllp.com.
WeissLaw LLP 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 clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the form
on our website,
http://www.weisslawllp.com/state-national-companies-inc/
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SOURCE WeissLaw LLP