Case Details for "Omni Energy Services Corp"

Investigation of Omni Energy Services Corp. for potential breaches of fiduciary duties

Lawyers are  investigating potential claims against the board of directors of Omni Energy Services Corp. ("Omni" or the "Company") (NASDAQ: OMNI) concerning possible breaches of fiduciary duty and other violations of law related to the Company's entry into an agreement to be acquired and taken private by Wellspring Capital Management LLC ("Wellspring"), in a transaction valued at approximately $122 million.

The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the transaction by Company's board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of Omni.

Posted on:06/04/2010
Company: Omni Energy Services Corp
Affected Class: Current shareholders
Scope: Nationwide

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