Cases
Seventy Seven Energy Inc. (OTC BB: SVNT)
Merger
Overview
Overview
- Date:
- 3/23/2017
- Company Name:
- Seventy Seven Energy Inc.
- Stock Symbol:
- SVNT
- Class Period:
- FROM 3/23/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Western Oklahoma
Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Western District of Oklahoma on behalf of all persons or entities who held Seventy Seven Energy Inc. (OTC BB: SVNT) securities on March 23, 2017 (the “Class Period”).
On December 12, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Patterson-UTI Energy, Inc. will acquire Seventy Seven Energy Inc. in a deal worth $1.76 billion. As a result of the merger, Seventy Seven Energy shareholders are only anticipated to receive 1.7725 shares of Patterson-UTI common stock for each share of Seventy Seven Energy common stock.
The Complaint alleges that the Company failed to conduct a fair sales process and failed to disclose all material information regarding the sale of the Company.
If you held Seventy Seven Energy securities during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On December 12, 2016, the two parties announced the signing of a definitive merger agreement pursuant to which Patterson-UTI Energy, Inc. will acquire Seventy Seven Energy Inc. in a deal worth $1.76 billion. As a result of the merger, Seventy Seven Energy shareholders are only anticipated to receive 1.7725 shares of Patterson-UTI common stock for each share of Seventy Seven Energy common stock.
The Complaint alleges that the Company failed to conduct a fair sales process and failed to disclose all material information regarding the sale of the Company.
If you held Seventy Seven Energy securities during the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.