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Oil & Gas

Union Drilling under investigation

October 03, 2012
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BALA CYNWYD, Pa. -- Law office of Brodsky & Smith, LLC is investigating potential claims against the Board of Directors of Union Drilling, Inc. relating to the proposed acquisition by Sidewinder Drilling, Inc.

Under the terms of the transaction, Union Drilling shareholders will receive only $6.50 in cash for each share of Union Drilling stock they own.

The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Union Drilling for not acting in the Company''s shareholders'' best interests in connection with the sale process to Sidewinder.

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