NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of EXCO Resources, Inc. (“EXCO” or the “Company”) (NYSE: XCO) for possible breaches of fiduciary duty and other violations of state law in connection with the receipt of a proposal to purchase all the outstanding shares of stock of EXCO from its Chairman and Chief Executive Officer, Douglas H. Miller. Under the terms of the proposed transaction, EXCO shareholders will receive $20.50 in cash for each share of EXCO common stock. Mr. Miller currently owns approx. 2.15% of EXCO’s shares and he has engaged in discussions with other significant shareholders that own approximately 27.5% of EXCO’s shares to participate with him in an acquisition of EXCO.
The investigation concerns whether the EXCO Board of Directors breached their fiduciary duties to EXCO stockholders by failing to adequately shop the Company before entering into this transaction and whether Mr. Miller is underpaying for EXCO shares. At least analyst set a price target for EXCO stock at $29.00 per share.
If you own common stock in EXCO and wish to obtain additional information, please contact Vincent Wong, Esq. either via email firstname.lastname@example.org, by telephone at 212.584.2740, or visit http://www.wongesq.com/exco-resources-xco.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights.