Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Meridian Resource Corp. - TMR

NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky is investigating the Board of Directors of Meridian Resource Corp. (“Meridian” or the “Company”) (NYSE: TMR) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Alta Mesa Holdings LP . Under the terms of the transaction, Meridian shareholders will receive $0.29 in cash for each Meridian share of common stock they own for a total transaction value of approximately $26.8 million.

The investigation concerns whether the Meridian Board of Directors breached their fiduciary duties to Meridian shareholders given that (i) Meridian stock traded as high as $0.51 as recently as September 10, 2009; (ii) the Company has a book value of $0.56 per share; and (iii) at least one analyst set a price target for Meridian stock at $2.50 per share.

If you own common stock in Meridian and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/tmr1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.