SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation of SYNTROLEUM CORP. & Its Board of Directors In Relation to ...
December 17 2013 - 7:36PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Syntroleum Corp. (“Syntroleum” or “the Company”) (NASDAQ:SYNM) for
possible breaches of fiduciary duty and other violations of state
law in connection with the sale of substantially all of the
Company’s assets to Renewable Energy Group, Inc. (“REG”)
(NASDAQ:REGI).
Click here to learn more about the action
http://www.zlkdocs.com/Syntroleum-Request-Form-1347/, or
call: 877-363-5972. There is no cost or obligation to you.
Under the terms of asset sale, Syntroleum will receive 3,796,000
shares of REG common stock. Syntroleum currently intends to
distribute all of the shares of REG common stock received in the
asset sale to Syntroleum’s stockholders, assuming that the
Company’s cash reserve is sufficient to discharge Syntroleum’s
obligations and expenses associated with the asset sale and
dissolution. Syntroleum shareholders will then receive
approximately 0.3809 shares of REG common stock for each
outstanding share of Syntroleum common stock they own (subject to
reduction in the event that the aggregate market value of the REG
common stock to be issued would exceed $49 million or if the cash
transferred to REG is less than $3.2 million). The investigation
concerns whether the Syntroleum Board of Directors breached their
fiduciary duties to stockholders by failing to adequately shop the
Company before agreeing to enter into this transaction, and whether
REG is underpaying for Syntroleum assets.
If you own Syntroleum common stock and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://www.zlkdocs.com/Syntroleum-Request-Form-1347/.
Levi & Korsinsky is a national firm with offices in New
York, New Jersey, Connecticut and Washington D.C. The firm’s 26
attorneys have extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits. For
more information, please feel free to contact any of the attorneys
listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.
Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky,
Esq.Tel: 212-363-7500Toll Free: 877-363-5972Fax:
866-367-6510www.zlk.com
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