The Law Office Of Abe Shainberg Launches An Investigation Into Possible Breaches Of Fiduciary Duty By The Board Of TGC Industries, Inc. In Connection With The Sale Of The Company To Dawson Geophysical Company – TGE
The Law Office of Abe Shainberg is investigating the Board of Directors of TGC Industries, Inc. (Nasdaq: TGE) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Dawson Geophysical Company (Nasdaq: DWSN). Under the terms of the proposed transaction, TGC shareholders will receive 0.188 shares of Dawson stock for every share of TGC stock they own. Based on the closing prices for Dawson on March 18, 2011, the transaction values TGC at $8.00 per share for a total transaction value of approximately $157 million. When the transaction is complete, Dawson will have 11.7 million shares outstanding, with 68 percent owned by current Dawson shareholders and 32 percent held by TGC investors.
The investigation concerns whether the TGC Board of Directors breached their fiduciary duties to TGC stockholders by failing to adequately shop the Company before entering into this transaction and whether Dawson is underpaying for TGC shares.
If you own common stock in TGC and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/tgc-industries.html.
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.
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