WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A.:
- Do you own shares of EPL Oil & Gas, Inc. (NYSE: EPL)?
- Did you purchase any of your shares prior to March 12, 2014?
- Do you think the proposed buyout price is too low?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of EPL Oil & Gas, Inc. (“EPL” or the “Company”) (NYSE: EPL) regarding possible breaches of fiduciary duties and other violations of law related to the Company’s entry into an agreement to be acquired by Energy XXI (Bermuda) Limited (“EXXI”) (NASDAQ GS: EXXI), in a transaction valued at approximately $2.3 billion.
Click here to learn more: http://www.rigrodskylong.com/investigations/epl-oil-gas-inc-epl.
The transaction represents an implied price of $39.00 for each EPL share. Under the terms of the agreement, public shareholders of EPL can elect to receive: either (i) $39.00 in cash, (ii) 1.669 common shares of EXXI, or (iii) $25.35 in cash plus 0.584 common shares of EXXI for each share of EPL they own.
The investigation concerns whether EPL’s board of directors failed to adequately shop the Company and obtain the best possible value for EPL’s shareholders before entering into an agreement with EXXI. According to Yahoo! Finance, at least one analyst has issued a price target for EPL stock at $44.00 per share.
If you own the common stock of EPL and purchased your shares before March 12, 2014, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky or Gina M. Serra at Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, Delaware 19803, by telephone at (888) 969-4242; by e-mail to email@example.com, or at: http://www.rigrodskylong.com/investigations/epl-oil-gas-inc-epl.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly prosecutes securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, on behalf of shareholders in states and federal courts throughout the United States.
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