Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Superior Well Services Inc. - SWSI
Levi & Korsinsky is investigating the Board of Directors of Superior Well Services Inc. ("Superior Well" or the "Company") (NasdaqGS: SWSI) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Nabors Industries, Inc. ("Nabors") (NYSE: NBR).
- New York, NY (1888PressRelease) August 10, 2010 - Under the terms of the transaction, Superior Well shareholders will receive $22.12 in cash for each Superior Well share of common stock they own for a total transaction value of approximately $900 million. The investigation concerns whether the Superior Well Board of Directors breached their fiduciary duties to Superior Well stockholders by failing to adequately shop the Company before entering into this transaction and whether Nabors is underpaying for Superior Well shares, thus unlawfully harming Superior Well stockholders. In particular, at least one analyst set a price target for Superior Well stock at $25.00 per share. Also, holders of approximately 34% of Superior Well outstanding shares of common stock have entered into agreements agreeing to tender their shares in connection with the proposed transaction.
If you own common stock in Superior Wells and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi ( @ ) zlk dot com or by telephone at (212) 363-7500 or visit http://www dot zlk dot com/superior-well-services-swsi dot html dot
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Fax: (212) 363-7171