Robbins Umeda LLP Announces An Investigation Of The Acquisition Of Superior Well Services, Inc. By Nabors Industries Ltd.
Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Superior Well Services, Inc. ("Superior Well" or the "Company") (NYSE: SWSI) in connection with their efforts to sell Superior Well to Nabors Industries Ltd. ("Nabors"). If the transaction is completed, Superior Well shareholders will receive $22.12 in cash for each share of Superior Well stock they hold. Nabors expects the offer to close by the end of the third quarter.
Robbins Umeda LLP's investigation concerns whether the Board of Directors of Superior Well undertook a fair process to obtain fair consideration for all shareholders of Superior Well. Specifically, our investigation concerns whether the Company's Board of Directors breached their fiduciary duties to Superior Well shareholders by failing to adequately shop the Company before entering into the transaction with Nabors. Notably, the Company has recently improved liquidity with amendments to credit facility, temporarily increasing total capacity under credit facility to $90 million, up from $75 million. Additionally, at least one analyst has set a price target for Superior Well of $25.00 per share, $2.88 higher than the implied value of Nabors' offer.
If you are a shareholder of Superior Well, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at email@example.com.
Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.Advertisement
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV