Alterra Capital Holdings Limited (ALTE) Is Investigated by Faruqi & Faruqi, LLP for Potential Breach

Before you go, we thought you'd like these...
Before you go close icon

Alterra Capital Holdings Limited (ALTE) Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties

NEW YORK--(BUSINESS WIRE)-- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Alterra Capital Holdings Limited ("Alterra" or the "Company") (NAS: ALTE) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Markel Corp. ("Markel") (NYS: MKL) in a cash-and-stock deal valued at approximately $3.13 billion. Under the terms of the proposed transaction, Alterra's stockholders will receive 0.043 Markel share and $10 in cash for each share of Alterra common stock they own. Based on Markel's closing price of $459.30 as of January 16, 2013, the deal values Alterra at about $29.75 a share, while according to Yahoo! Finance, at least one financial analyst has set a price target of $31 for Alterra.

Request more information now by clicking is no cost or obligation to you.

The investigation focuses on whether Alterra's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Alterra's shareholders.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients.

If you own common stock in Alterra and wish to obtain additional information and protect your investments free of charge, please visit us at or contact Juan E. Monteverde, Esq. either via e-mail at or by telephone at (877) 247-4292 or (212) 983-9330.


Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330

Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.

Faruqi & Faruqi, LLP
Juan E. Monteverde, Esq.
(877) 247-4292 or (212) 983-9330

KEYWORDS:   United States  North America  New York


The article Alterra Capital Holdings Limited (ALTE) Is Investigated by Faruqi & Faruqi, LLP for Potential Breaches of Fiduciary Duties originally appeared on

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners