NEW YORK, Sept. 9, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Overseas Shipholding Group, Inc. (“Overseas Shipholding” or the “Company”) (NYSE: OSG). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Overseas Shipholding and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 7, 2021, Saltchuk Holdings (“Saltchuk”) disclosed in a U.S. Securities and Exchange Commission filing that it had ended discussions regarding a potential offer for Overseas Shipholding. Specifically, Saltchuk stated that it “has notified [Overseas Shipholding] that, in light of continued uncertainty with respect to the pace and trajectory of the global pandemic recovery and its effects on [Overseas Shipholding’s] business and operations, Saltchuk Holdings is suspending discussions with the [Company] regarding a possible acquisition of its outstanding common stock.”
On this news, Overseas Shipholding’s stock price fell $0.53 per share, or 19.56%, to close at $2.18 per share on September 8, 2021
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
SOURCE Pomerantz LLP
