BALA CYNWYD, Pa.--(BUSINESS WIRE)-- Law office of Brodsky & Smith, LLC announces that it has filed a class action lawsuit against the Board of Directors of Union Drilling, Inc. (“Union Drilling” or the “Company”) (Nasdaq- UDRL) relating to the proposed acquisition by Sidewinder Drilling, Inc. (“Sidewinder”).
Under the terms of the transaction, Union Drilling shareholders will receive only $6.50 in cash for each share of Union Drilling stock they own. The class action lawsuit alleges breaches of fiduciary duty, conflicts of interest, and various deal protections which would prevent a superior offer. The transaction may undervalue the Company and result in a substantial loss for many Union Drilling shareholders.
If you own shares of Union Drilling 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 firstname.lastname@example.org visiting http://brodsky-smith.com/483-udrl-union-drilling-inc.html, by calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
Source: Brodsky & Smith, LLC