This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

TGC Industries, Inc. Shareholder Investigation By Briscoe Law Firm Concerning Proposed Stock Acquisition By Dawson Geophysical Company

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 patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.



1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs