Tripp Levy PLLC, a leading national securities law firm, announces an investigation into the proposed acquisition of CNinsure Inc. (Nasdaq:CISG) by TPG Asia V MU, Inc. ("TPG Asia"), Kingsford Resources Limited, a company controlled by Mr. Yinan Hu, chairman of the Board of Directors and chief executive officer of the Company, and entities affiliated with him (collectively, the "Founder"), and CDH Inservice Limited ("CDH", together with TPG Asia and the Founder, the "Consortium Members"), to acquire all of the outstanding ordinary shares of the CNinsure, other than certain American Depositary Shares ("ADSs") or ordinary shares held by the Founder and CDH, in a going private transaction for $19.00 per ADS, or $0.95 per ordinary share. The Founder and CDH currently beneficially own, in the aggregate, approximately 34.3% of the Company's outstanding ordinary shares.
The investigation concerns, among other things, whether the consideration to be paid to CNinsure shareholders is unfair, inadequate, and substantially below the fair or inherent value of CNinsure. Indeed, analysts have projected that the Company’s true going forward inherent value is worth over $30 per share. The investigation further concerns whether Mr. Hu and the board of directors of CNinsure may have breached their fiduciary duties by not acting in CNinsure shareholders' best interests in connection with the sale process of CNinsure.
If you own CNinsure common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York, New YorkToll Free: 877-772-3975Email:
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.
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