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August 09, 2010 08:08 PM Eastern Daylight Time 

SAN DIEGO--(BUSINESS WIRE)--Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors of Superior Well Services, Inc. ("Superior Well" or the "Company") (NYSE: SWSI) in connection with their efforts to sell Superior Well to Nabors Industries Ltd. ("Nabors"). If the transaction is completed, Superior Well shareholders will receive $22.12 in cash for each share of Superior Well stock they hold. Nabors expects the offer to close by the end of the third quarter.

Robbins Umeda LLP's investigation concerns whether the Board of Directors of Superior Well undertook a fair process to obtain fair consideration for all shareholders of Superior Well. Specifically, our investigation concerns whether the Company's Board of Directors breached their fiduciary duties to Superior Well shareholders by failing to adequately shop the Company before entering into the transaction with Nabors. Notably, the Company has recently improved liquidity with amendments to credit facility, temporarily increasing total capacity under credit facility to $90 million, up from $75 million. Additionally, at least one analyst has set a price target for Superior Well of $25.00 per share, $2.88 higher than the implied value of Nabors' offer.

If you are a shareholder of Superior Well, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.

Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.

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