NEW YORK, Oct. 10, 2011 /PRNewswire/ -- Levi &
Korsinsky is investigating the Board of Directors of Complete
Production Services, Inc. ("Complete" or the "Company") (NYSE: CPX)
for possible breaches of fiduciary duty and other violations of
state law in connection with the sale of the Company to Superior
Energy Services, Inc. (NYSE: SPN). Under the terms of the
transaction, Complete shareholders will receive 0.945 common shares
of Superior Energy Services and $7.00
cash per share of Complete stock they own. Based on prior closing
price of Superior Energy Services stock, the transaction represents
a value of $32.90 per share and a
total transaction value of approximately $2.6 billion.
Click here to learn more about the investigation:
http://www.zlk.com/complete-production-cpx, or call:
877-363-5972.
The claims concern whether the Complete Board of Directors
breached their fiduciary duties to Complete stockholders by failing
to adequately shop the Company before entering into this
transaction and whether Superior Energy Services is underpaying for
Complete shares, thus unlawfully harming Complete stockholders.
In particular, shares of Complete traded as high as
$42.62 per share as recently as
July 25, 2011. Further, the median
price target for Complete stock set by fifteen brokers is
$47.00 per share with at least one
analyst setting a price target of $55.00 per share.
If you own common stock in Complete and wish to obtain
additional information, please contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877)
363-5972, or visit http://www.zlk.com.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation. The attorneys at Levi & Korsinsky have been
appointed by numerous courts throughout the country to serve as
lead counsel on behalf of shareholders in major litigations
involving mergers and acquisitions. For more information,
please feel free to contact any of the attorneys listed below.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP