NEW YORK, May 2, 2016 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of VAALCO Energy, Inc. ("VAALCO" or the "Company") (NYSE: EGY), concerning whether the board has breached its fiduciary duties to shareholders.
In September 2015, the Board of VAALCO approved a shareholder rights plan and severance packages for the Company's CEO and CFO. The severance packages provide for, among other things, significant windfall payments in the event of termination. The shareholder rights plan is designed to affect potential acquirers of the company with more than 10% of VAALCO's outstanding stock and prevent an acquisition of the company by a third party.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own VAALCO shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP