Stockholder alleges merging companies, board members broke law

By Philip Gonzales | Jul 10, 2017

HOUSTON — A stockholder has filed a class action lawsuit against merging companies and board members, alleging false and misleading information.

Bernard Stern, individually and on behalf of all others similarly situated, filed a complaint June 23 in the Houston Division of the Southern District of Texas against Atwood Oceanics Inc., George S. Dotson, Jack E. Golden, Hans Helmerich, Jeffrey A. Miller, Ensco PLC and Echo Merger Sub LLC, alleging they violated Sections 14(a) and 20(a) of the Securities Exchange Act.

According to the complaint, Stern was denied important information in deciding how to vote on the proposed merger and is threatened with irreparable harm. The plaintiff alleges the defendants omitted material information with respect to the merger agreement, in filing Form S-4 registration statement with the SEC and failed to disclose projected financial information.

Stern seeks trial by jury and seeks an order enjoining the defendants from proceeding with, consummating or closing the proposed transaction, rescissory damages, costs of this action, attorney and expert fees and all other just and proper relief. He is represented by attorneys Joe Kendall and Jamie J. McKey of Kendall Law Group PLLC in Dallas, and attorneys from Rigrodsky & Long PA in Wilmington, Delaware, and RM Law PC in Berwyn, Pennsylvania.

Houston Division of the Southern District of Texas case number 4:17-cv-01942

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Houston Division of the Southern District of Texas Rigrodsky & Long PA RM Law PC The Kendall Law Group PLLC

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