CPX Complete Production Services Complete Production Services Common Stock

The law firm of Federman & Sherwood has initiated an investigation into Complete Production Services, Inc. (NYSE:CPX) (“Complete”) with respect to possible breaches of fiduciary duty by the company’s officers and directors, as well as violations of state law, in connection with its proposed sale and merger with Superior Energy Services, Inc. (NYSE: SPN) (“Superior”).

On October 10, 2011, both companies made announcements that their respective Boards of Directors unanimously approved a definitive merger agreement combining the two companies into a premier diversified mid-cap oilfield services company. Under the terms of the merger agreement, Complete stockholders would receive 0.945 common shares of Superior stock and cash of $7.00 in exchange for each share of Complete common stock they hold at closing. After closing and upon the issuance of new Superior shares to Complete shareholders, Superior and Complete stockholders are expected to own approximately 52% and 48%, respectively, of Superior's outstanding shares.

Considering that Complete’s shares traded around $42.00 per share as recently as July 25, 2011, Federman & Sherwood is investigating whether the proposed merger makes all necessary disclosures to Complete’s stockholders, whether it offers adequate value to Complete’s shareholders, and whether Complete Production could have received a higher valuation for its shareholders by aggressively seeking other purchasers. The companies anticipate that the transaction will close as soon as the end of this calendar year. Superior and Complete intend to file a joint proxy statement/prospectus with the Securities and Exchange Commission as soon as possible.

If you currently own common stock in Complete Production Services, Inc. (NYSE:CPX), have information to assist in our investigation, or have any questions or concerns regarding this notice or preservation of your rights, please contact William B. Federman. Federman & Sherwood has extensive experience representing investors in securities, derivative and merger-related shareholder class actions in state and federal courts nationwide.

Grafico Azioni Complete Production Services Complete Production Services Common Stock (NYSE:CPX)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Complete Production Services Complete Production Services Common Stock (NYSE:CPX)
Storico
Da Giu 2023 a Giu 2024