Syntroleum Shareholder Alert: Former SEC Attorney Willie Briscoe & Powers Taylor LLP Investigate Asset Sale to Renewable Ener...
December 19 2013 - 11:29AM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor
LLP are investigating potential claims against the Board of
Directors of Syntroleum Corp. (“Syntroleum”) (NasdaqCM: SYNM)
related to the sale of substantially all its assets to a wholly
owned subsidiary of Renewable Energy Group, Inc. (“Renewable”) for
shareholders. Under the terms of the agreement, Syntroleum will
receive 3,796,000 shares of Renewable common stock (subject to
downward adjustment), which Syntroleum plans to distribute to
Syntroleum stockholders. Depending on if Syntroleum’s cash reserve
is sufficient to discharge Syntroleum’s obligations and expenses
associated with the asset sale and dissolution, Syntroleum
shareholders will then receive about 0.3809 shares of Renewable
common stock per share of Syntroleum owned. However, if
unanticipated expenses and liabilities arise, there is a chance
that Syntroleum must sell a portion of or all of the REG common
stock, thereby reducing and even eliminating the assets available
for distribution for shareholders.
If you are an affected investor, and you want to learn more
about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 239-4568, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor
LLP, toll free (877) 728-9607, via e-mail at
shareholder@powerstaylor.com. There is no cost or fee to you.
The Syntroleum investigation centers on whether Syntroleum’s
Board of Directors is acting in the shareholders’ best interests,
whether the board is properly considering the asset sale for the
shareholders, and whether the board has employed an adequate
process to review and act on the proposed transaction.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles
a variety of complex business litigation matters, including claims
of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
The Briscoe Law Firm, PLLCWillie Briscoe,
214-239-4568WBriscoe@TheBriscoeLawFirm.comorPowers Taylor LLPZach
Groover, 877-728-9607shareholder@powerstaylor.com
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