Shareholder Update in Connection with Common and Preferred Stockholders Regarding Buyout of Superior Well Services
Tripp Levy PLLC announces an update on its investigation into the proposed acquisition of Superior Well Services, Inc. (NASDAQ: SWSI). On August 9, 2010, Nabors Industries Ltd. (NYSE: NBR) and Superior Well announced that they have entered into a definitive merger agreement whereby Nabors will acquire Superior Well Services, through a tender offer, for all outstanding shares of Superior Well common stock at a price of $22.12 per share in cash.
In connection with the transaction, the board of directors of Superior Well may have breached their fiduciary duties by not acting in the best interests of its common and preferred stockholders. The Board, not only may have entered into a merger agreement that undervalues the company’s common stock but also may have prevented its convertible preferred stockholders from receiving the fair value for their securities as well.
If you own Superior Well common and/or preferred stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact
Tripp Levy
Tripp Levy PLLC
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New York, New York
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Email: contact@tripplevy.com
Tripp Levy PLLC is a national law firm that specializes in mergers & acquisitions, takeover litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States.
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