WILMINGTON, Del., July 13, 2017 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the Southern District of Texas on behalf of holders of Atwood Oceanics, Inc. (“Atwood”) (NYSE:ATW) common stock in connection with the proposed acquisition of Atwood by Ensco plc and Echo Merger Sub LLC (collectively, “Ensco”) announced on May 30, 2017 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Atwood, its Board of Directors (the “Board”), and Ensco, is captioned Stern v. Atwood Oceanics, Inc., Case No. 4:17-cv-01942 (S.D. Tex.)
If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/.
On May 29, 2017, Atwood entered into an agreement and plan of merger (the “Merger Agreement”) with Ensco. Pursuant to the Merger Agreement, shareholders of Atwood will receive 1.60 Class A ordinary shares of Ensco per Atwood share (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a registration statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission on June 16, 2017. The Complaint alleges that the Registration Statement, which recommends that Atwood stockholders vote in favor of the Proposed Transaction, omits material information necessary to enable shareholders to make an informed decision as to how to vote on the Proposed Transaction, including material information with respect to Atwood’s financial projections, the analyses performed by Atwood’s financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Atwood common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than September 11, 2017. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities fraud, shareholder corporate, and shareholder derivative litigation on behalf of shareholders in state and federal courts throughout the United States.
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