The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Memorial Resource Development Corp. (“Memorial Resource” or the “Company”) (Nasdaq: MRD) relating to the proposed buyout of the Company by Range Resources Corp. (“Range Resources”).

Under the terms of the agreement, Memorial Resource shareholders are anticipated to receive 0.375 shares of Range Resources stock for each share of Memorial Resource common stock held, representing an approximate value of $15.75 a share. The transaction may undervalue Memorial Resource and would result in no real gain or a loss for many shareholders, especially given that the Company’s 52-week high was $20.60. Additionally, according to Yahoo! Finance, at least one Wall Street analyst has issued a price target for Memorial Resource stock at $23.00 per share.

The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors failed to satisfy their duties to shareholders, including whether the Board adequately pursued alternatives to the acquisition and whether the Board obtained the best price possible for the Company’s shares of common stock.

If you currently own common stock of Memorial Resource and believe that the proposed buyout price is too low, or you would like to learn more about the investigation being conducted by Brower Piven, please visit our website at 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 have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.

Brower Piven, A Professional CorporationCharles J. Piven, 410-415-66161925 Old Valley RoadStevenson, Maryland 21153hoffman@browerpiven.com

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