Law Office of Brodsky & Smith, LLC Announces Investigation of Allis-Chalmers Energy, Inc.
13 Agosto 2010 - 3:48PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Allis-Chalmers Energy, Inc. (“Allis-Chalmers” or the “Company”)
(NYSE: ALY) relating to the proposed acquisition by Seawell
Limited.
Under the terms of the offer, Allis-Chalmers shareholders would
receive either cash of $4.25 or 1.15 Seawell common shares for each
share of Allis-Chalmers stock they own. The offer is subject to a
pro-ration if more than 35% of the shares elect to receive cash.
The investigation concerns possible breaches of fiduciary duty and
other violations of state law. The transaction appears to be
unfair, in part, given that Allis-Chalmers stock was trading at
$4.17 a share as recently as May 3, 2010 and was trading at $4.49 a
share on January 19, 2010.
If you own shares of Allis-Chalmers 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, or by calling toll free
877-LEGAL-90.
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