WASHINGTON, Oct. 13, 2009 (GLOBE NEWSWIRE) -- Finkelstein Thompson LLP is investigating potential claims on behalf of shareholders of Sinoenergy Corp. ("Sinoenergy" or the "Company") (Nasdaq:SNEN) arising from the Company's announcement of its intent to go private through a merger with Skywide Capital Management Ltd. ("Skywide").
On October 12, 2009, Sinoenergy announced its intent to go private. Skywide is owned by the chairman and president of Sinoenergy, and is a controlling shareholder of Sinoenergy with about 39% of the Company's stock. Sinoenergy shareholders will receive $1.90 per share in the proposed merger. The shares of the Company were trading for as much as $3.35 in the year preceding the merger announcement.
The investigation is focused on the potential unfairness of the consideration to be paid to Sinoenergy shareholders as well as the potential unfairness of the process by which the Sinoenergy Board of Directors is addressing the transaction.
If you are interested in discussing your rights as a Sinoenergy shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at contact@finkelsteinthompson.com.
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