Union Drilling Sale Alert: Briscoe Law Firm And Powers Taylor, LLP Investigate Sale To Sidewinder Drilling

Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Union Drilling, Inc. (“Union Drilling”) (Nasdaq: UDRL) to Sidewinder Drilling, Inc. for shareholders. Under the proposed Union Drilling sale, Union Drilling shareholders will receive only $6.50 in cash for each share of Union Drilling stock owned (well below the 52 week high of $8.42 per share) in a deal valued at approximately $242 million.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, 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, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Union Drilling sale investigation centers on whether Union Drilling shareholders are receiving adequate compensation for their shares in the buyout, whether the transaction undervalues Union Drilling stock, and whether Union Drilling’s board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Shareholder rights attorney Willie Briscoe stated that “due to the proposed sale price, we believe that the transaction may undervalue Union Drilling stock. Our lawsuit will seek to obtain the highest share price for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.

Copyright Business Wire 2010

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