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Case Status:    DISMISSED    
On or around 01/08/2020 (Notice of voluntarily dismissal)

Filing Date: September 20, 2019

According to the Complaint, Isramco, Inc. is an independent oil and natural gas company engaged in the exploration, development, and production of oil and natural gas properties located onshore in the United States and ownership of various royalty interests in oil and gas concessions located offshore Israel.

This action stems from a proposed transaction announced on May 20, 2019, pursuant to which Isramco, Inc. will be acquired by Naphtha Israel Petroleum Corporation Ltd.

On May 20, 2019, Isramco’s Board of Directors caused the Company to enter into an agreement and plan of merger with Naphtha. Pursuant to the terms of the Merger Agreement, Isramco’s stockholders will receive $121.40 in cash for each share of Isramco common stock they own.

On September 6, 2019, Defendants filed a proxy statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which scheduled a stockholder vote on the Proposed Transaction for October 22, 2019. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on January 8, 2020.


Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States


Ticker Symbol: ISRL
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Delaware
DOCKET #: 19-CV-01774
JUDGE: Hon. Colm F. Connolly
DATE FILED: 09/20/2019
CLASS PERIOD END: 09/20/2019
  1. Rigrodsky & Long, P.A. (Wilmington)
  2. RM Law, P.C. (Berwyn)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available