BOSTON, April 25, 2012 /PRNewswire/ -- Block &
Leviton LLP (www.blockesq.com), a Boston-based law firm representing investors
nationwide, has commenced an investigation into possible breaches
of fiduciary duty by the Board of Directors of GeoResources Inc.
("GeoResources" or the "Company") (Nasdaq: GEOI) concerning the
proposed acquisition of the Company by privately-held Halcon
Resources Corp. ("Halcon") for $37.97
per share, which values the Company at approximately $1 billion, and is less than a 20% premium over
the Company's closing price the day before the proposed transaction
was announced.
Block & Leviton's investigation seeks in part to determine
whether GeoResources's Directors breached their fiduciary duties by
failing to maximize shareholder value in the proposed
transaction. The Company's shares traded as high as
$35.97 per share as recently as
March 19, 2012. Moreover, at
least one analyst has a target price of $39.00 per share for GeoResources' common stock
and specifically noted the Company's "strong year-end reserve
growth."
If you are a GeoResources shareholder and have information
relevant to this matter or have questions about your legal rights,
please contact Jason M. Leviton of
Block & Leviton at (617) 398-5620 or email him at
Jason@blockesq.com.
Block & Leviton is a Boston-based law firm representing investors
in cases involving violations of securities laws. The firm's
lawyers have collectively been prosecuting securities cases for
over 50 years.
This notice may constitute attorney advertising.
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Contact:
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BLOCK & LEVITON LLP
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Jason M. Leviton, Esq.
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Jason@blockesq.com
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(617) 398-5620
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SOURCE Block & Leviton LLP