EPL OIL & GAS SHAREHOLDER ALERT: Faruqi & Faruqi, LLP Announces the Investigation of EPL Oil & Gas, Inc. Over the Proposed Sale of the Company to Energy XXI Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of EPL Oil & Gas, Inc.
NEW YORK, March 12, 2014 /PRNewswire/ -- Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of EPL Oil & Gas, Inc. ("EPL" or the "Company") (NYSE: EPL) for potential breaches of fiduciary duties in connection with the sale of the Company to Energy XXI for approximately $2.3 billion. The Company's shareholders have the choice to receive either $39 dollars cash, 1.669 common shares of Energy XXI, or a combination of cash and stock each share of EPL common stock they own. As recent as October 18, 2013, EPL common stock was trading above $42.
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The investigation focuses on whether EPL's Board of Directors breached their fiduciary duties to the Company's stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of EPL's shareholders.
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If you own common stock in EPL and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/EPL or contact Juan E. Monteverde, Esq. either via e-mail at email@example.com or by telephone at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Juan E. Monteverde, Esq.
Toll Free: (877) 247-4292
Phone: (212) 983-9330
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