|By PR Newswire||
|January 22, 2014 04:30 PM EST||
NEW YORK, Jan. 22, 2014 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Parker Drilling Co. ("Parker Drilling" or the "Company") (NYSE: PKD) for potential breaches of fiduciary duties in connection with their conduct related to the Company's January 7, 2014 announcement, 'Parker Drilling Announces Cash Tender Offer and Consent Solicitation for 9.125% Senior Notes Due 2018'. In the press release, Parker Drilling announced that it has commenced a cash tender offer to purchase any and all of the Company's outstanding 9.125% Senior Notes due 2018 ("Notes") and a related solicitation of consents from the holders of the Notes.
Parker Drilling's acquisition of note holders' Senior Notes might not be in the best interest of the Company's stockholders and note holders. If you are a Parker Drilling stockholder or note holder, please contact us before February 4, 2014.
Request more information now by clicking here: www.faruqilaw.com/PKD. There is no cost or obligation to you.
The investigation focuses on whether Parker Drilling's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether and by how much this proposed transaction undervalues the Company to the detriment of Parker Drilling's shareholders and note holders.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
If you own notes or common stock in Parker Drilling and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/PKD or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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