Equal Energy Ltd. Merger Litigation (NYSE: EQU)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Equal Energy Ltd. - EQU
BALA CYNWYD, December 9, 2013 /PR Newswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Equal Energy Ltd. (“Equal Energy” or the “Company”) (NYSE –EQU-News) relating to the proposed acquisition by Petroflow Energy Corporation. (“Petroflow”).
Under the terms of the transaction, Equal Energy shareholders will receive only $5.43 in cash for each share of Equal Energy stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Equal Energy for not acting in the Company’s shareholders' best interests in connection with the sale process. The investigation seeks to determine if the Equal Energy Board of Directors failed to conduct an adequate auction process and as a result harmed the Equal Energy shareholders by undervaluing their Company.
The transaction will result in little to no gain for many Equal Energy shareholders as Equal Energy stock has recently traded above the sale price at $5.50 per share as recently as December 5, 2013 and traded at $4.89 per share on January 9, 2012. In addition, one of Equal Energy’s largest shareholders has expressed concern about the Company’s handling of the strategic process.
If you own shares of Equal Energy common stock 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 calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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