NEW YORK, Feb. 10, 2014 /PRNewswire/ -- Notice is
hereby given that a class action lawsuit has been filed in the
United States District Court for the Western District of
Oklahoma, on behalf of all
shareholders of Equal Energy Ltd. ("Equal Energy" or the "Company")
(NYSE: EQU) who held common stock on or before December 9, 2013, the day the Company agreed to
be acquired, in connection with the proposed acquisition of the
Company by Petroflow Energy Corporation.
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If you wish to obtain information concerning this action, you
can do so by clicking here: http://www.faruqilaw.com/equ
On December 9, 2013, Equal Energy
announced that it had entered into an arrangement agreement (the
"Arrangement Agreement") under which Petroflow will acquire all
outstanding shares of stock of Equal Energy (the "Proposed
Transaction"). Pursuant to the Proposed Transaction, for each share
of Equal Energy common stock they currently own Equal Energy's
stockholders will receive $5.43 in
cash. The total value of the Proposed Transaction is
approximately $230 million.
The complaint charges Equal Energy, its board of directors (the
"Board"), and Petroflow with violations of the Securities Exchange
Act of 1934 (the "Exchange Act") and breaches of fiduciary duties
for failing to conduct an adequate and fair sales process prior to
agreeing to the Proposed Transaction.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients.
If you wish to serve as lead plaintiff, you must move the Court
no later than March 31,
2014. Any member of the putative class may
move the Court to serve as lead plaintiff through counsel of their
choice, or may choose to do nothing and remain an absent class
member. If you wish to discuss this action, or have any
questions concerning this notice or your rights or interests,
please contact:
Juan E. Monteverde,
Esq.
FARUQI & FARUQI, LLP
369 Lexington Ave
10th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: jmonteverde@faruqilaw.com
SOURCE Faruqi & Faruqi, LLP