The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor, LLP are investigating potential legal claims against the Board of Directors of TGC Industries, Inc. (“TGC Industries” or “TGE”) (NASDAQ: TGE) related to the proposed buyout of TGC Industries by Dawson Geophysical Company. The definitive acquisition agreement, which was announced on March 21, 2011, involves a stock-for-stock transaction valued at approximately $157 million in which each TGC Industries shareholder will receive a fixed ratio of 0.188 shares of Dawson Geophysical for each share of TGC Industries owned.
Based on Dawson Geophysical’s prior closing price, the deal has an implied value of approximately $8.00 per share. However, TGC Industries shares closed as high as $7.25 as recently as March 9, 2011. In addition, under the terms of the transaction the exchange ratio may be modified, or the acquisition may be terminated, if the average volume weighted average price of Dawson Geophysical common stock falls below $32.54 or rises above $52.54 per share during the ten consecutive trading days ending on the second business day prior to the date that the shareholders will meet to approve the transaction.
The investigation relates to the fairness of the proposed transaction to TGC Industries shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of TGC Industries for approving this transaction, and whether TGC Industries’ Board of Directors acted in the shareholders’ best interests.
If you currently own shares of TGC Industries/TGE and would like
additional information regarding this investigation, or if you have
information regarding the allegations involved in this transaction,
please contact Patrick Powers at Powers Taylor, LLP, toll free (877)
728-9607, via e-mail at
or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877)
397-5991, or via email at
There is no cost or fee to you.
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 + 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