On February 21, 2010, Smith and Schlumberger jointly announced that they entered into a merger agreement. Under the terms of the agreement, Smith shareholders will receive 0.6966 shares of Schlumberger stock for every share of Smith stock that they own in a transaction valued at approximately $11 billion. The deal is expected to close in the latter half of 2010.

The investigation is focused on the potential unfairness of the price to Smith shareholders and the process by which the Smith Board of Directors considered and approved the transaction. Specifically, the investigation will examine potential conflicts of interests on the part of the Smith Board of Directors, the extremely close business relationship the two companies have had, including the 60/40 joint venture in which the companies are engaged, and the fact that Smith CEO John Yearwood is a former executive of Schlumberger.

If you are interested in discussing your rights as a Smith shareholder, or have information relating to this investigation, please contact Finkelstein Thompson's Washington, DC offices at (877) 337-1050 or by email at This email address is being protected from spam bots, you need Javascript enabled to view it .