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.
Copyright Business Wire 2013