Federman & Sherwood Investigates GeoResources, Inc. for Possible Breaches of Fiduciary Duty
25 Abril 2012 - 1:52PM
Business Wire
The law firm of Federman & Sherwood has initiated an
investigation into Houston-based GeoResources, Inc. (NASDAQ: GEOI)
(“GeoResources”) with respect to possible breaches of fiduciary
duty by the company’s officers and directors, as well as violations
of state law, in connection with its proposed acquisition by Halcón
Resources (NYSE: HK) (“Halcón”).
On April 25, 2012, GeoResources, Inc. announced that it had
agreed to merge with Halcón, whereby Halcón would acquire all
outstanding shares of GeoResources common stock in a cash/stock
offer of approximately $973.1 million (or $20.00 per GEOI share,
plus 1.932 shares of HK stock for each share of GeoResources stock
owned), resulting in GeoResources shareholders receiving
approximately $37.97 per share. This merger offer is well below the
target price range of $39.00-$43.00 recently announced by several
analysts.
Federman & Sherwood is investigating whether: (1) the
information being provided to GeoResources shareholders makes all
necessary disclosures with respect to the merger; (2) whether the
proposed merger offers adequate long-term value to GeoResources
shareholders; and, (3) whether GeoResources could have received a
premium for its shareholders had the officers and directors
aggressively sought other purchasers for the company, thereby
depriving GEOI stockholders of any premium if this transaction is
approved, which is expected to close in the 3rd quarter of
2012.
If you currently own common stock in GeoResources, Inc., have
information to assist in our investigation, or have any questions
or concerns regarding this notice or preservation of your rights,
please contact William B. Federman. Federman & Sherwood has
extensive nationwide experience in representing investors in
securities, derivative and merger-related shareholder class
actions, and has been appointed as lead counsel in multiple complex
cases.
Georesources (NASDAQ:GEOI)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Georesources (NASDAQ:GEOI)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
Notícias em tempo-real sobre Georesources, Inc. (MM) da NASDAQ bolsa de valores: 0 artigos recentes
Mais Notícias de Federman & Sherwood