San Diego, CA -- (SBWire) -- 11/18/2021 --Certain directors of Overseas Shipholding Group, Inc. are under investigation over potential breaches of fiduciary duties.
Investors who purchased shares of Overseas Shipholding Group, Inc. (NYSE: OSG) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Overseas Shipholding Group directors breached their fiduciary duties and caused damage to the company and its shareholders.
Tampa, FL based Overseas Shipholding Group, Inc., together with its subsidiaries, owns and operates a fleet of oceangoing vessels.
Overseas Shipholding Group, Inc. (NYSE: OSG) reported that its annual Total Revenue rose from $355.54 million in 2019 to $418.69 million in 2020, and that its Net Income increased from $8.67 million in 2019 to $30. Million in 2020.
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."
Shares of Overseas Shipholding Group, Inc. (NYSE: OSG) closed on September 27, 2021, at $2.15 per share.
Those who purchased shares of Overseas Shipholding Group, Inc. (NYSE: OSG) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NYSE:OSG Investor Notice: Investigation over Potential Wrongdoing at Overseas Shipholding Group, Inc.
An investigation on behalf of investors in Overseas Shipholding Group, Inc. (NYSE:OSG) shares over potential wrongdoing at Overseas Shipholding Group, Inc. was announced.