Stull, Stull & Brody Announces Investigation on Behalf of Shareholders of Pinnacle Gas Resources, Inc.
February 24 2010 - 6:54PM
Business Wire
Attorney Advertising. Notice is hereby given that Stull, Stull
& Brody has commenced an investigation on behalf of
shareholders of the common stock of Pinnacle Gas Resources, Inc.
(“Pinnacle” or the “Company”) (Nasdaq: PINN) for possible breaches
of fiduciary duty and other violations of state law by the
Company’s Board of Directors (the “Board”) in connection with an
agreement by the Board to sell all of the Company’s outstanding
common shares to Scotia Waterous (USA) Inc. (“Scotia”) in a cash
transaction valued at approximately $11 million or $0.34 per common
share.
The current investigation concerns the price to be paid to
Pinnacle shareholders and the process by which the Board is
addressing the transaction. Under the terms of the proposed
transaction, Pinnacle shareholders will receive $0.34 per share in
cash. At least one analyst has set the target estimate for the
common stock at $1.00 per share, and the Company's shares traded as
high as $0.41 per share as recently as December 30, 2009.
If you own the common stock of Pinnacle and wish to obtain
additional information about this matter, please contact Aaron
Brody, Esq. at Stull, Stull & Brody by calling 1-800-337-4983
or 1-212-687-7230, or by email to ssbny@aol.com or by writing to
Stull, Stull & Brody, 6 East 45th Street, New York, NY 10017.
Stull, Stull & Brody has litigated many class actions for
violations of securities laws and breaches of fiduciary duty on
behalf of defrauded investors over the past 40 years and has
obtained court approval of substantial settlements on numerous
occasions. Stull, Stull & Brody has offices in New York and Los
Angeles. Additional information about Stull, Stull & Brody can
be found at the firm’s website at www.ssbny.com.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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