An investigation on behalf of investors in Overseas Shipholding Group, Inc. (NYSE:OSG) shares over potential wrongdoing at Overseas Shipholding Group, Inc. was announced.
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 firstname.lastname@example.org 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.
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