Superior Well Services, Inc. Board Faces Investor Investigation

If you are a current investor in Superior Well Services, Inc. (NASDAQ:SWSI) shares, who purchased your SWSI stock prior to Monday, August 09, 2010, and/or have information relating the investigation, you have certain options and you should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this investigation, please use this form. You may also send an email to, or call us at (858) 779-1554.
Company Name(s): 
Superior Well Services
Affected Securities: 

After the announcement to take over Superior Well Services, Inc. (NASDAQ:SWSI) by Nabors Industries Ltd. an investigation on behalf of current investors of Superior Well Services, Inc. (Public, NASDAQ:SWSI) over possible shareholder claims based on breach of fiduciary duty by certain members of the Superior Well Services board of directors in connection with their attempt to sell Superior Well Services, Inc. (NASDAQ:SWSI) was announced.

Superior Well Services, Inc., located in Indiana, PA, provides a range of wellsite solutions to oil and natural gas companies, primarily technical pumping services and down-hole surveying services. On Monday, August 09, 2010, Superior Well Services, Inc. (Superior Well Services) (Nasdaq: SWSI) and Nabors Industries Ltd. (Nabors) (NYSE: NBR) announced that they have entered into a merger agreement whereby Nabors Industries Ltd. will acquire Superior Well Services, Inc. at a price of $22.12 per share in cash for each outstanding share of Superior Well Services common stock. The transaction is valued at approximately $900 million.

Shares of Superior Well Services, Inc. (SWSI) traded as high as $19.65 per share days before the announcement and increased in response of the news to $22.02 per share. But SWSI shares traded at over $33 per share in 2008 and at least one analyst has projected that
Superior Well’s true inherent value is at least $25 per share. Superior Well Services, Inc. reported Total Revenue in 2007 of $350.77million, in 2008 $520.89million, and in 2009 $399.46million.

The investigation by a law firm “concerns whether Nabors Industries Ltd., as well as the directors of Superior Well Services, Inc. breached their fiduciary duties by not acting in Superior Well Services, Inc. (NASDAQ:SWSI) shareholders' best interests in connection with the sale process of Superior Well Services (SWSI), whether the Superior Well Services Board of Directors breached their fiduciary duty to Superior Well Services (SWSI) stockholders by failing to adequately shop the Company prior to entering into the agreement, whether the Board of Directors breach their fiduciary duties by not seeking a deal that will provide better value for Superior Well Services, and whether Nabors Industries Ltd. is underpaying for Superior Well Services, Inc. (SWSI), thus unlawfully harming SWSI stockholders.”