BALA CYNWYD, Pa., Oct. 2, 2012 /PRNewswire/ -- Law office of
Brodsky & Smith, LLC announces that it is investigating
potential claims against the Board of Directors of Union Drilling,
Inc. ("Union Drilling" or the "Company") (Nasdaq- UDRL) relating to
the proposed acquisition by Sidewinder Drilling, Inc.
("Sidewinder").
Under the terms of the transaction, Union Drilling shareholders
will receive only $6.50 in cash for
each share of Union Drilling stock they own. The investigation
concerns possible breaches of fiduciary duty and other violations
of state law by the Board of Directors of Union Drilling for not
acting in the Company's shareholders' best interests in connection
with the sale process to Sidewinder. The transaction may undervalue
the Company and result in a substantial loss for many Union
Drilling shareholders. For example Union Drilling stock traded at
$13.86 on April 26, 2011 and traded at $7.49 as recently as February 23, 2012.
If you own shares of Union Drilling stock and wish to discuss
the legal ramifications of the proposed transaction, or have any
questions, you may e-mail or call the law office of Brodsky &
Smith, LLC who will, without obligation or cost to you, attempt to
answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith,
LLC, Two Bala Plaza, Suite 602, Bala
Cynwyd, PA 19004, by e-mail at
investorrelations@brodsky-smith.com visiting
http://brodsky-smith.com/483-udrl-union-drilling-inc.html, by
calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC