BRNC Bronco Drilling Company, Inc. (MM)

Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Bronco Drilling Company, Inc. (“Bronco” or the “Company”) (NASDAQ:BRNC) related to the Company’s agreement to be acquired by Chesapeake Energy Corporation (“Chesapeake”) in a proposed transaction where Bronco shareholders will receive $11.00 per share in cash for each share they own of the Company’s stock. The transaction is valued at approximately $315 million.

The investigation concerns whether the board of directors of Bronco breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the proposed transaction, and whether the Company has disclosed all material information to shareholders about the transaction. Specifically, the Company has seen substantial growth over the past year and Bronco’s share price has traded above $11.00 per share as recently as April 4, 2011. Further, several analysts have set a target price of $13.50 per share, virtually nullifying any premium that Bronco shareholders would receive under the transaction.

If you are a shareholder of Bronco, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.

Bronco Drilling Company, Inc. (MM) (NASDAQ:BRNC)
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