Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Equal Energy Ltd. (“Equal Energy” or the “Company”) (NYSE: EQU) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Petroflow Energy Corporation and Petroflow Canada Acquisition Corp. (“Petroflow”) in a cash deal valued at $230 million. Under the terms of the proposed transaction, Equal Energy’s stockholders will receive $5.43 per share of Equal Energy common stock they own, which represents a decrease from December 5, 2013's closing price of $5.50.
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The investigation focuses on whether Equal Energy’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Equal Energy’s shareholders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm’s clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.If you own common stock in Equal Energy and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EQU or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330. Attorney Advertising. (C) 2013 Faruqi & Faruqi, LLP. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We are happy to discuss your particular case.