American Oil & Gas, Inc. Merger Litigation (AMEX: AEZ)
Law Office of Brodsky & Smith, LLC Announces Investigation of American Oil & Gas, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of American Oil & Gas, Inc, (“American Oil” or the “Company”) (AMEX: AEZ – News) relating to the proposed acquisition by Hess Corporation (‘Hess”).
Under the terms of the offer, American Oil shareholders would receive 0.1373 shares of Hess stock for each share of American Oil stock they own. American Oil shareholders may also receive a cash dividend, which is based on American Oil’s working capital as of the closing. The transaction values American Oil stock at approximately $7.32 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that American Oil stock was trading at $7.49 a share as recently as May 12, 2010 and was trading at $7.34 a share on April 15, 2010
If you own shares of American Oil and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org, or by calling toll free 877-LEGAL-90.
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