Gilman Law Investigates Lawsuit Against Complete Production Services, Inc.
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Complete Production Services, Inc. (“Complete”) and certain of its officers and directors breached their fiduciary duty to shareholders in connection with its proposed sale and merger with Superior Energy Services, Inc. (NYSE: SPN) (“Superior”). Complete is one of North America’s leading oilfield service providers.
For over 40 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. If you currently own stock in Complete Production Services, Inc. (NYSE: CPX) you may contact Gilman Law LLP to discuss your rights, including as to recovery of your losses or to obtain additional information.
Possible Breaches of Fiduciary Duty
On October 10, 2011, Complete and Superior announced a unanimously approved merger agreement combining the two companies into a premier diversified mid-cap oilfield service company. Under the terms of the merger agreement, Complete shareholders would receive .945 common shares of SPN and cash of $7.00 in exchange for each share of CPX they hold at closing. However, since CPX shares are currently trading at approximately $42 per share, shareholders are questioning whether Complete’s directors and officers breached their fiduciary duty to shareholders by not aggressively seeking other offers and whether all necessary disclosures were made to shareholders.
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits. Gilman Law has recovered over a billion dollars for its clients and can help you recover any losses that you have incurred as a result of Complete’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please visit www.investment-losses.com or CALL TOLL FREE (888) 252-0048.