SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of CREDO Petroleum Corporation in Connection With the Sale of the Company to Forestar Group, Inc.
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/13/12 -- Levi & Korsinsky notifies investors of CREDO Petroleum Corporation ("Credo" or the "Company") (NASDAQ: CRED) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Forestar Group, Inc. (NYSE: FOR). A complaint was filed in Delaware state court.
Under the terms of the transaction, Credo shareholders will receive $14.50 for each share of Credo stock they own. The transaction has a total approximate value of $146 million. The claims concern whether the Credo Board of Directors breached their fiduciary duties to Credo stockholders by failing to adequately shop the Company before entering into this transaction and whether Forestar Group, Inc. is underpaying for Credo shares, thus unlawfully harming Credo stockholders.
If you own common stock in Credo and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or .
Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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Datum: 13.07.2012 - 18:10 Uhr
Sprache: Deutsch
News-ID 165189
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