NEW YORK, May 22, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Isramco, Inc.
("ISRL" or the "Company") (NASDAQ CM: ISRL) in connection with the
proposed "take private" transaction of the Company led by Naphtha
Israel Petroleum Corporation Ltd. ("Naphtha"), Naphtha Holding Ltd.
("NHL"), I.O.C. – Israel Oil Company, LTD. ("IOC") and Naphtha US
Oil, Inc. (each a wholly owned subsidiary of Naphtha, and, together
with Naphtha, the "Naphtha Group"). Under the terms of the
agreement, ISRL shareholders will receive $121.40 per share.
If you are a shareholder of ISRL who wishes to
discuss the investigation or have any questions about this notice
and your rights or interests, please contact:
Joshua
Rubin
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our website
http://www.weisslawllp.com/isramco-inc/
Or follow us on Twitter
@MarketsAlert
WeissLaw is investigating whether ISRL's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the acquisition will expand Naphtha's footprint in
the United States to include
ISRL's more than 400 oil and gas wells. Additionally, the
offer price represents a meager 4.4% premium over the Company's
30-day average share price.
Moreover, the Company reported revenue of $80 million for the fiscal year ended 2018, up
more than 27% from 2017.
Given these facts, WeissLaw is also investigating whether ISRL's
Board conducted a fair process in agreeing to the proposed merger,
whether the proposed merger undervalues the Company, and whether
all material information related to the proposed merger is fully
and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com.
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SOURCE WeissLaw LLP