Law Office of Brodsky & Smith, LLC Announces Investigation of GeoResources, Inc.
28 Apr, 2012, 01:00 ET
BALA CYNWYD, Pa., April 28, 2012 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of GeoResources, Inc. ("GeoResources" or the "Company") (Nasdaq: GEOI) relating to the proposed acquisition by Halcon Resources Corporation (NYSE: HK).
Under the terms of the transaction, GeoResources shareholders would receive only $20.00 in cash and 1.932 shares of Halcon common stock for each share of the GeoResources they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of GeoResources for not acting in the Company's shareholders' best interests in connection with the sale process to Halcon. The transaction may undervalue GeoResourses as at least six (6) analysts have released target prices that value the Company's stock between $38.00 and $43.00 per share, all above the current offer.
If you own shares of GeoResources 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 protected] visiting http://www.brodsky-smith.com/415-geoi-georesources-inc.html, or by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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