SAN DIEGO, May 21, 2024 (GLOBE NEWSWIRE) --
Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Overseas Shipholding Group, Inc. (NYSE: OSG) breached their fiduciary duties in connection with the proposed sale of the Company to Saltchuk Resources, Inc.
You can click or copy and paste the following link to join this investigation:
Click Here to Join the Investigation
On May 20, 2024, Overseas Shipholding announced that it had entered a deal to merge with Saltchuk Resources, Inc. Under the terms of the deal, Overseas Shipholding shareholders will receive only $8.50 per share in cash.
The investigation concerns whether the Overseas Shipholding board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Overseas Shipholding shares of common stock. Nationally recognized, Johnson Fistel is investigating whether the proposed deal represents adequate consideration.
If you are a shareholder in Overseas Shipholding and believe the proposed buyout price is too low or you're interested in learning more about the investigation, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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Contact:
Johnson Fistel, LLP
501 W. Broadway, Suite 800, San Diego, CA 92101
James Baker, Investor Relations or Frank J. Johnson, Esq., (619) 814-4471
jimb@johnsonfistel.com or fjohnson@johnsonfistel.com
