NEW YORK, April 19, 2021 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Diamond S Shipping Inc. (NYSE: DSSI) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by International Seaways, Inc. (NYSE: INSW) (“INSW”).
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On March 31, 2021, Diamond S announced that it had signed an agreement to be acquired by INSW in an all-stock transaction. Pursuant to the merger agreement, Diamond S stockholders will receive 0.55375 shares of INSW common stock for each share of Diamond S common stock owned. The deal is scheduled to close in the third quarter of 2021.
Bragar Eagel & Squire is concerned that Diamond S’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Diamond S’s stockholders.
If you own shares of Diamond S and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at [email protected] or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Bragar Eagel & Squire, P.C.
Melissa Fortunato, Esq.
Alexandra Raymond, Esq.