Nymagic Inc. Board Being Investigated By The Law Office Of Joseph Klein Following Bid By ProSight Specialty Insurance - NYM

The Law Office of Joseph Klein is investigating the Board of Directors of Nymagic Inc. (NYSE: NYM) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to ProSight Specialty Insurance Holdings, Inc. Under the terms of the transaction, Nymagic shareholders will receive $25.75 in cash for each Nymagic share of common stock they own for a total transaction value of approximately $230 million.

For the year ending December 31, 2009, Nymagic reported total revenue of $217.495 million and net income of $45.463 million as compared to total revenue and a net loss of $56.181 million and $104.335 million, respectively, for the prior year. The investigation concerns whether the Nymagic Board of Directors breached their fiduciary duties by failing to adequately shop the Company before entering into this transaction and whether ProSight is underpaying for Nymagic shares, thus unlawfully harming Nymagic stockholders. In particular, the offer price is only a small premium over the $24.72 price the Company's shares traded at as recently as April 26, 2010 and the Company has reported a book value of $26.23 per share for the most recent quarter.

If you own common stock in Nymagic and wish to obtain additional information about this investigation and what is being done to advance the shareholders’ interests, please contact Joseph Klein, Esq. directly, via email at [e-mail], by telephone at 718-947-0005, Toll Free: 877-STOK-180, or http://www.jkleinlawfirm.com/nymagic-nym.html. All consultations are confidential and free of charge.

To share your views on the proposed merger transaction and to see how other shareholders plan on voting, go to http://buyoutorsellout.com/web/mergers/nymagic.html.

Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation.