BALA CYNWYD, Pa.
Oct. 2, 2012
/PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Union Drilling, Inc. ("Union Drilling" or the "Company") (Nasdaq- UDRL) relating to the proposed acquisition by Sidewinder Drilling, Inc. ("Sidewinder").
Under the terms of the transaction, Union Drilling shareholders will receive only
in cash for each share of Union Drilling stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Union Drilling for not acting in the Company's shareholders' best interests in connection with the sale process to Sidewinder. The transaction may undervalue the Company and result in a substantial loss for many Union Drilling shareholders. For example Union Drilling stock traded at
April 26, 2011
and traded at
as recently as
February 23, 2012
If you own shares of Union Drilling stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602,
Bala Cynwyd, PA
19004, by e-mail at
, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC