Wolf Haldenstein Adler Freeman & Herz LLP and Monteverde & Associates PC announces that they have filed a lawsuit on behalf of shareholders of National Interstate Corp. in the Northern District of Ohio

Lead Plaintiff Deadline is January 3, 2017

NEW YORK, NY / ACCESSWIRE / November 3, 2016 / Wolf Haldenstein Adler Freeman & Herz LLP and Monteverde & Associates PC announce that they have filed a class action lawsuit in the United States District Court for the Northern District of Ohio on behalf of all shareholders of National Interstate Corp. (“National Interstate”) (NASDAQ: NATL) who owned shares of National Interstate prior to the July 25, 2016 merger announcement.

On July 25, 2016, National Interstate and Great American jointly announced that they had reached a definitive Agreement and Plan of Merger whereby Great American, a wholly-owned subsidiary of American Financial Group, Inc. (“AFGI”), would acquire the approximately 49% of National Interstate’s issued and outstanding common shares that it does not presently own. The Proposed Transaction was unanimously approved and adopted by the members of the board of directors of National Interstate, except those members who are affiliated with Great American or AFGI. Upon the closing of the Proposed Transaction, National Interstate will become a wholly-owned subsidiary of AFGI. Pursuant to the Merger Agreement, National Interstate common stockholders will have their shares cancelled and automatically converted into the right to receive $32.00 in cash, plus a dividend of $0.50 per share. The total value of the Proposed Transaction is $660 million.

The complaint alleges that the Board of Directors of National Interstate breached its fiduciary duties and violated securities laws by undervaluing National Interstate, entering into deal protection provisions that unreasonably deter third party bidders from offering topping bids, and issuing materially incomplete and misleading information in documents related to the proposed transaction.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein Adler Freeman &
Herz LLP by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.

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Contact:

Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email:
gstone@whafh.com, or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774

SOURCE: Wolf Haldenstein Adler Freeman & Herz LLP

ReleaseID: 448302