Company: Isramco, Inc.
Deadline: June 21, 2019
Kaskela Law LLC is investigating Isramco, Inc. (“Isramco” or the “Company”) (Nasdaq: ISRL) on behalf of the Company’s stockholders.
On May 20, 2019, Isramco announced that it had entered into a “going private” transaction with Naphtha Israel Petroleum Corporation Ltd. (“Naphtha”) through which Isramco stockholders will receive $121.40 per share in cash for their Isramco shares. Notably, the Company also disclosed that its Chairman and Co-CEO, “who through various entities controls Naphtha, beneficially owns approximately 73.0% of the outstanding common stock of Isramco.”
The investigation seeks to determine: (i) whether $121.40 per share represents adequate consideration for the Company’s shares; (ii) whether the Company’s executive officers and/or directors violated the securities laws or breached their fiduciary duties in connection with the transaction with Naphtha; and (iii) whether the Company’s shareholders are receiving all material information in connection with the transaction with Naphtha.
Isramco stockholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 – 1740, or by completing the form on this page, to discuss this investigation and their legal rights and options with respect to this proposed transaction.