Bernstein Liebhard LLP is investigating whether the Board of Directors of Pride International, Inc. (“Pride” or the “Company”) (NYSE:PDE) breached its fiduciary duty to its shareholders in agreeing to sell Pride to Ensco International plc.
Under the terms of the agreement, Pride shareholders will receive 0.4778 newly-issued shares of Ensco, plus $15.60 in cash for each share of Pride common stock. The investigation is focused on the potential unfairness of the price to Pride shareholders and the process by which the Pride Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Pride 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 eight years.Bernstein Liebhard LLP10 East 40th StreetNew York, New York 10016(877) 779-1414 www.bernlieb.com ATTORNEY ADVERTISING. © 2011 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.