Crimson Exploration, Inc. Merger Litigation (Nasdaq: CXPO)
SHAREHOLDER ALERT: Law Office of Brodsky & Smith, LLC Announces Investigation of Crimson Exploration, Inc. - CXPO
BALA CYNWYD, May 1, 2013 /PRNewswire/ –Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Crimson Exploration, Inc. (“Crimson” or the “Company”) (Nasdaq- CXPO-News) relating to the proposed acquisition Contango Oil & Gas Company (“Contango”).
Under the terms of the transaction, Crimson shareholders will receive only 0.08288 shares on Contango stock for each share of Crimson stock they own. The transaction values Crimson at approximately $3.19 per share. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Crimson for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue Crimson and will result in loss for many Crimson shareholders. For example, Crimson stock traded at $4.85 per share as recently as September 14, 2012 and traded at $5.45 per share on April 30, 2012. In addition, an analyst has set a price target for Crimson stock at $6.00 per share.
If you own shares of Crimson stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at email@example.com by calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
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