Kendall Law Group, led by former federal judge Joe Kendall, is investigating TGC Industries, Inc. (NASDAQ: TGE) for shareholders in connection with the proposed acquisition by Dawson Geophysical Company. The national securities firm’s investigation seeks to determine whether TGC Industries and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a TGC Industries shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at email@example.com.
On March 21, 2011, the companies announced the definitive merger agreement under which TGC Industries would be acquired by Dawson, in a transaction valued at approximately $157 million. Under the terms of the agreement, TGC Industries stockholders will receive 0.188 shares of Dawson stock (NASDAQ: DWSN) for each share of TGC Industries/TGE common stock held. The exchange ratio may be modified or the agreement may be terminated if the average of the volume weighted average price of Dawson's common stock falls below $32.54 or rises above $52.54 during the ten consecutive trading days ending on the second business day prior to the date of the shareholders' meetings of Dawson and TGC Industries to be called for the purpose of approving the transaction. The firm’s investigation seeks to determine whether TGC Industries and its Board negotiated a deal that provides the best value available to shareholders.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.