ALY Allis-Chalmers Energy

Bernstein Liebhard LLP is investigating whether the Board of Directors of Allis-Chalmers Energy Inc. (“Allis-Chalmers” or the “Company”) (NYSE: ALY) breached its fiduciary duty to its shareholders in agreeing to sell Allis-Chalmers to Seawell Limited (NOTC: SEAW).

Under the terms of the agreement, Allis-Chalmers shareholders will have the right to elect to receive either $4.25 in cash or 1.15 Seawell common shares for each share they own, subject to pro-ration if more than 35% of the shares elect to receive cash, placing the total value of the transaction at approximately $890 million (including assumed debt). The parties currently anticipate that the transaction will close at the end of the calendar year. The investigation is focused on the potential unfairness of the price to Allis-Chalmers shareholders and the process by which the Allis-Chalmers Board of Directors considered and approved the transaction.

If you are interested in discussing your rights as an Allis-Chalmers shareholder and/or have information relating to the matter, please contact U. Seth Ottensoser at (877) 779-1414 or Ottensoser@bernlieb.com.

Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last seven years.

Bernstein Liebhard LLP10 East 40th StreetNew York, New York 10016(877) 779-1414www.bernlieb.com

ATTORNEY ADVERTISING. © 2010 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

Allis-Chalmers Energy (NYSE:ALY)
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Allis-Chalmers Energy (NYSE:ALY)
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De May 2023 a May 2024