NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Syntroleum Corp. (“Syntroleum” or “the Company”) (NASDAQ:SYNM) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of substantially all of the Company’s assets to Renewable Energy Group, Inc. (“REG”) (NASDAQ:REGI).
Click here to learn more about the action http://www.zlkdocs.com/Syntroleum-Request-Form-1347/, or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of asset sale, Syntroleum will receive 3,796,000 shares of REG common stock. Syntroleum currently intends to distribute all of the shares of REG common stock received in the asset sale to Syntroleum’s stockholders, assuming that the Company’s cash reserve is sufficient to discharge Syntroleum’s obligations and expenses associated with the asset sale and dissolution. Syntroleum shareholders will then receive approximately 0.3809 shares of REG common stock for each outstanding share of Syntroleum common stock they own (subject to reduction in the event that the aggregate market value of the REG common stock to be issued would exceed $49 million or if the cash transferred to REG is less than $3.2 million). The investigation concerns whether the Syntroleum Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether REG is underpaying for Syntroleum assets.
If you own Syntroleum common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlkdocs.com/Syntroleum-Request-Form-1347/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.