SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Isramco, Inc. to Naphtha Israel Petroleum Corporation Ltd. is Fair to Shareholders
NEW YORK, May 21, 2019 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Isramco, Inc. (“Isramco” or the “Company”) (NASDAQ: ISRL) stock prior to May 20, 2019.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Isramco to Naphtha Israel Petroleum Corporation Ltd. (“Naphtha”) and certain wholly owned subsidiaries thereof. Under the terms of the deal, the holders of the Company’s outstanding shares of common stock will receive US $121.40 per share in cash, other than (i) the shares owned by NHL or IOC, (ii) the shares held by Isramco as treasury stock and (iii) the shares in respect of which appraisal rights have been properly and validly exercised under Delaware law. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Isramco merger investigation concerns whether the Board of Isramco breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Naphtha is underpaying for Isramco shares, thus unlawfully harming Isramco shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. 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, LLP Joseph E. Levi, Esq. 55 Broadway, 10th Floor New York, NY 10006 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com