Goldman Scarlato & Karon P.C. (“GSK”) has commenced an investigation of potential legal claims against the board of directors of Pride International, Inc. (“Pride International” or PDE) (NYSE:PDE) relating to the proposed buyout of Pride International by Ensco, PLC. The definitive acquisition agreement, announced on February 7, 2011, involves a combined stock-and-cash transaction valued at approximately $7.3 billion. The acquisition price reflects a value of only $41.60 per share to Pride International shareholders.
The investigation relates to the fairness of the proposed transaction to Pride International shareholders, possible breaches of fiduciary duty and other violations of state law by the board of directors of Pride International for approving this transaction, and whether Pride International’s board of directors acted in shareholders' best interests.
If you currently own shares of Pride International/PDE and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Mark S. Goldman, Esq. at (888) 668-4130 or firstname.lastname@example.org.
About Goldman Scarlato & Karon, P.C.GSK prosecutes securities fraud, consumer fraud, price-fixing, ERISA class actions, and shareholder-derivative actions throughout the U.S. The Firm’s lawyers have recovered hundreds of millions of dollars on behalf of consumers, investors, and businesses. To learn more about GSK, you may visit www.gsk-law.com.