We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Nuverra Environmental Solutions, Inc. (“Nuverra” or the “Company”) (NYSE: NES), in connection with the proposed acquisition of the Company by Select Energy Services, Inc. (“Select”) (NYSE: WTTR). Under the terms of the merger agreement, the Company’s shareholders will receive approximately 4.2 million shares of Select Class A common stock in exchange for all outstanding shares of Nuverra. The transaction is valued at approximately $45 million.
WeissLaw LLP is investigating whether (i) Nuverra’s board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Nuverra’s shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.