Allis-Chalmers Energy, Inc. Merger Litigation (NYSE: ALY)
Law Office of Brodsky & Smith, LLC Announces Investigation of Allis-Chalmers Energy, Inc.
BALA CYNWYD – (BUSINESS WIRE) Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Allis-Chalmers Energy, Inc. (“Allis-Chalmers” or the “Company”) (NYSE: ALY – News) relating to the proposed acquisition by Seawell Limited.
Under the terms of the offer, Allis-Chalmers shareholders would receive either cash of $4.25 or 1.15 Seawell common shares for each share of Allis-Chalmers stock they own. The offer is subject to a pro-ration if more than 35% of the shares elect to receive cash. The investigation concerns possible breaches of fiduciary duty and other violations of state law. The transaction appears to be unfair, in part, given that Allis-Chalmers stock was trading at $4.17 a share as recently as May 3, 2010 and was trading at $4.49 a share on January 19, 2010
If you own shares of Allis-Chalmers 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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