SHAREHOLDER ALERT: Brower Piven Announces Class Action Lawsuit in Connection With Claims of Breaches of Fiduciary Duty by the...
25 Mars 2014 - 3:25AM
The securities litigation firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the Delaware Chancery Court on behalf of all common
stockholders of EPL Oil & Gas, Inc. ("EPL" or the "Company")
(NYSE:EPL) asserting claims that the members of the Company's board
of directors have breached fiduciary duties they owe to EPL
shareholders.
Under the terms of the transaction, EPL shareholders may elect
to receive either $39.00 in cash, 1.669 common shares of Energy
XXI, or $25.35 in cash plus 0.584 common shares of Energy XXI for
each share of EPL common stock they own. The claims asserted in the
lawsuit concern whether the Company's Board of Directors breached
their fiduciary duties to stockholders by failing to maximize
shareholder value before agreeing to enter into this transaction,
and whether Energy XXI is underpaying for EPL shares. According to
Yahoo! Finance, at least one analyst following EPL has set a target
price of $44.00 per share.
If you currently own common stock of EPL and would like to learn
more about this lawsuit and your ability to participate as a
plaintiff, without cost or obligation to you, click
here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven
either by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. Attorneys at Brower Piven together have more than a
century of experience litigating securities and other class action
cases.
CONTACT: Brower Piven, A Professional Corporation
1925 Old Valley Road, Stevenson, Maryland
Charles J. Piven
410-415-6616
hoffman@browerpiven.com
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