SHAREHOLDER ALERT: WeissLaw LLP Investigates TransAtlantic Petroleum Ltd.
NEW YORK, Aug. 10, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of TransAtlantic Petroleum Ltd. ("TAT" or the "Company") (NYSE American: TAT) in connection with the proposed interested-party acquisition of the Company by TAT Holdco LLC, a group of investors that controls all of the Company's outstanding Series A preferred shares ("Preferred Shareholders"). Under the terms of the acquisition agreement, the Company's shareholders will receive only $0.13 in cash for each share of TAT common stock that they own.
If you own TAT shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/transatlantic-petroleum-ltd/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
WeissLaw is investigating whether the special committee of TAT's board was truly independent and acted to maximize shareholder value in agreeing to the proposed transaction, whether the special committee was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the valuation of the deal will be fully and fairly disclosed to TAT shareholders. These issues are of particular concern given the influence and control the Preferred Shareholders can wield over TAT by virtue of their ownership of all of the Company's Series A preferred shares. Moreover, the per-share offer price is significantly lower than the analyst target price of $1.89, suggesting the special committee may have agreed to an undervalued deal at the behest of the Preferred Shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP
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