Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of Superior Well Services, Inc.
09 Agosto 2010 - 7:30PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
Superior Well Services, Inc. (“Superior Well Services” or the
“Company”) (NASDAQ:SWSI) related to the Company’s agreement to be
acquired by Nabors Industries Ltd. (“Nabors”). The proposed cash
transaction is valued at approximately $900 million.
Under the terms of the definitive merger agreement entered into
by the parties, Nabors will commence a tender offer for all
outstanding shares of Superior Well Services common stock at a
price of $22.12 per share in cash. Nabors expects to commence the
tender offer promptly, and expects the offer to close by the end of
the 2010 third quarter. Following completion of the tender offer,
Nabors will acquire any remaining shares of Superior Well Services
through a second-step merger at the same price paid in the tender
offer. The investigation concerns possible breaches of fiduciary
duty and other violations of law related to approval of the
proposed transaction by Superior Well Services’ board of
directors.
If you own shares of Superior Well Services, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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