Law Firm Brower Piven Announces Investigation of Venoco, Inc.
19 Janvier 2012 - 10:32PM
Business Wire
The law firm of Brower Piven, A Professional Corporation, has
commenced an investigation into possible breaches of fiduciary duty
to current shareholders of Venoco, Inc. (“Venoco”) (NYSE: VQ) and
other violations of state law by the board of directors of Venoco
relating to the proposed acquisition of the company by its Chairman
and CEO Timothy Marquez through a wholly owned entity, Denver
Parent Corporation (“Mr. Marquez”). The firm’s investigation seeks
to determine, among other things, whether the board breached their
fiduciary duties by failing to maximize shareholder value.
On January 16, 2012, Venoco announced that they had entered into
a definitive agreement with Mr. Marquez, through a wholly owned
entity, Denver Parent Corporation. According to the announcement,
Venoco shareholders – excluding Mr. Marquez and his affiliated
entities – will receive $12.50 per share in cash upon completion of
the transaction. However, according to Yahoo! Finance, at least one
analyst has set a high price target of $20.00 per share.
If you currently own shares of Venoco and would like to learn
more about the investigation being conducted by Brower Piven, you
may email or call Brower Piven, who will, without obligation or
cost to you, attempt to answer your questions. You may contact
Brower Piven by email at hoffman@browerpiven.com, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925
Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower
Piven have combined experience litigating securities and other
class action cases of over 60 years.
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