SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Union Drill
23 October 2012 - 11:05AM
Levi & Korsinsky notifies investors of Union Drilling, Inc.
("Union Drilling" or the "Company") (Nasdaq:UDRL) of claims of
breaches of fiduciary duty and other violations of state law
against the board of directors of the Company in connection with
the sale of the Company to Sidewinder Drilling Inc. A complaint was
filed in Texas state court.
Click here to learn more about the investigation:
http://zlk.9nl.com/union-drilling-udrl, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Union Drilling shareholders
will receive $6.50 for each Union Drilling share they own. The
transaction has a total approximate value of $242 million. The
claims concern whether the Union Drilling Board of Directors
breached their fiduciary duties to Union Drilling stockholders by
failing to adequately shop the Company before entering into this
transaction and whether Sidewinder Drilling Inc. is underpaying for
Union Drilling shares, thus unlawfully harming Union Drilling
stockholders. In particular, Union Drilling reported a book value
of $8.76 per share for the most recent quarter.
If you own common stock in Union Drilling 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://zlk.9nl.com/union-drilling-udrl.
Levi & Korsinsky is a national firm with offices in New York
and Washington D.C. The firm has extensive expertise in prosecuting
securities litigation involving financial fraud, representing
investors throughout the nation in securities and shareholder
lawsuits. 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 - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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