Law Office of Brodsky & Smith, LLC Announces Investigation of Complete Production Services, Inc.
11 Ottobre 2011 - 5:30AM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Complete Production Services, Inc. (“Complete” or the “Company”)
(NYSE – CPX) relating to the proposed acquisition by Superior
Energy Services, Inc.
Under the terms of the proposed transaction Complete
shareholders would receive 0.945 common shares of Superior Energy
Services and $7.00 in cash for each share of Complete stock they
own. The transaction represents a share price of approximately
$32.90 per Complete share. The investigation concerns possible
breaches of fiduciary duty and other violations of state law by the
Board of Directors of Complete for not acting in the Company’s
shareholders' best interests in connection with the sale process.
The transaction may undervalue the Company as Complete stock traded
at $41.70 as recently as July 25, 2011, and traded at $34.15 on
April 25, 2011. Further, an analyst has set a price target of
$55.00 per Complete share.
If you own shares of Complete 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
investorrelations@brodsky-smith.com, visiting
http://brodsky-smith.com/340-cpx-complete-production-services-inc.html,
or by calling toll free 877-LEGAL-90.
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