Barrack, Rodos & Bacine Files Complaint On Behalf of Shareholders of BJ Services Company

9/8/2009 - Barrack, Rodos & Bacine, representing an institutional investor, filed a class action on behalf of BJ Services Company (“BJS”) investors seeking to enjoin implementation of a proposal by Baker Hughes, Inc. to acquire BJS. Under the $5.5 billion proposal, Baker Hughes would pay $2.69 per share in cash plus approximately 0.40035 of a Baker Hughes share for each BJS share owned by investors, representing $17.94 per share based on the closing price of Baker Hughes’ stock on Friday, August 28, 2009. The complaint, filed in the Court of Chancery of the State of Delaware, alleges that the consideration offered to BJS shareholders is unfair and inadequate. If you would like to learn more about this action or if you wish to discuss the matter further, please contact BR&B partner Jeffrey Gittleman by telephone at (215) 963-0600, or by email at jgittleman@barrack.com.