The Law Office of Vincent Wong Announces Investigation of Possible Breach of Fiduciary Duty by the Board of Superior Well Ser...
09 Agosto 2010 - 3:47PM
Business Wire
The Law Office of Vincent Wong is investigating the Board of
Directors of Superior Well Services Inc. (NasdaqGS: SWSI) for
possible breaches of fiduciary duty and other violations of state
law in connection with their attempt to sell the Company to Nabors
Industries, Inc. (NYSE: NBR). Under the terms of the tender offer,
Superior Well shareholders will receive $22.12 in cash per share
for a total transaction value of approximately $900 million.
The investigation concerns whether board of directors of
Superior Well may have breached their fiduciary duties to Superior
Well shareholders by not adequately shopping the company before
entering into this transaction and whether the consideration to be
paid to Superior Well shareholders is adequate. At least one
analyst has projected that Superior Well’s true inherent value is
at least $25 per share. Also, holders of approximately 34% of
Superior Well outstanding common stock, including executives of the
company have entered into agreements with Nabors to support the
transaction and tender their shares.
If you own common stock in Superior Wells and wish to obtain
additional information about this investigation and what is being
done to advance the shareholders’ interests, please contact Vincent
Wong, Esq. directly, via email at vw@wongesq.com, by telephone at
212.584.2740, or visit
http://www.wongesq.com/superior-well.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights.
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