Law Offices of Howard G. Smith Announces Investigation on Behalf of Shareholders of American Oil & Gas Inc.
29 July 2010 - 10:30AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
American Oil & Gas Inc. (“American Oil & Gas” or the
“Company”) (AMEX:AEZ) related to the Company’s agreement to be
acquired by Hess Corporation (“Hess”) in a proposed stock-for-stock
transaction.
Under the terms of the merger agreement entered into by the
parties, Hess has agreed to issue 0.1373 shares of its common stock
in exchange for each outstanding share of American Oil & Gas
common stock. The agreement provides for a possible cash dividend
to American Oil & Gas’ stockholders to the extent of the
Company’s positive working capital as of the closing date – subject
to certain adjustments described in the merger agreement – and
subject to available cash. The investigation concerns possible
breaches of fiduciary duty and other violations of law related to
approval of the proposed transaction by the board of directors of
American Oil & Gas.
If you own shares of American Oil & Gas, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.