Faruqi & Faruqi, LLP Announces the Investigation of Kodiak Oil & Gas Corp. Over the Proposed Sale of the Company to Whiting Petroleum Corporation Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Kodiak Oil & Gas Corp.
NEW YORK, July 16, 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 Kodiak Oil & Gas Corp. ("Kodiak" or the "Company") (NYSE: KOG) for potential breaches of fiduciary duties in connection with the sale of the Company to Whiting Petroleum Corporation ("Whiting") in an all-stock deal valued at approximately $6 billion. The Company's stockholders will only receive 0.177 Whiting shares for each share of Kodiak common stock they own, which is equivalent to approximately $13.90 per share based on Whiting's closing price on July 11, 2014. According to Yahoo! Finance, at least one analyst has set a price target of $19.00 for the Company.
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The investigation focuses on whether Kodiak'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 Kodiak's shareholders.
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If you own common stock in Kodiak and wish to obtain additional information and protect your investments free of charge, please visit us at www.faruqilaw.com/KOG or contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org 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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