Syntroleum Corporation (SYNM)

[mkendra]

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation of SYNTROLEUM CORP. and Its Board of Directors In Relation to the Sale of Its Assets to Renewable Energy Group, Inc.

Dec 17, 2013 19:36:00 (ET)

NEW YORK--(BUSINESS WIRE)--December 17, 2013--

Levi & Korsinsky is investigating the Board of Directors of Syntroleum Corp. ("Syntroleum" or "the Company") (NASDAQ:SYNM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of substantially all of the Company's assets to Renewable Energy Group, Inc. ("REG") (NASDAQ:REGI).

Click here to learn more about the action http://www.zlkdocs.com/Syntroleum-Request-Form-1347/, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of asset sale, Syntroleum will receive 3,796,000 shares of REG common stock. Syntroleum currently intends to distribute all of the shares of REG common stock received in the asset sale to Syntroleum's stockholders, assuming that the Company's cash reserve is sufficient to discharge Syntroleum's obligations and expenses associated with the asset sale and dissolution. Syntroleum shareholders will then receive approximately 0.3809 shares of REG common stock for each outstanding share of Syntroleum common stock they own (subject to reduction in the event that the aggregate market value of the REG common stock to be issued would exceed $49 million or if the cash transferred to REG is less than $3.2 million). The investigation concerns whether the Syntroleum Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether REG is underpaying for Syntroleum assets.