NEW YORK--(BUSINESS WIRE)--The Law Offices of Vincent Wong are investigating the Board of Directors of Venoco, Inc. (NYSE: VQ) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed acquisition of the Company by Venoco’s Chairman and CEO, Timothy Marques, for $12.50 per share for each share he does not currently own. Marques currently owns 50.3% of Venoco’s shares.
To get more information and join the action, click here: http://www.wongesq.com/venoco-vq.html.
The investigation concerns whether the Board is acting in Venoco shareholders’ best interests in connection with the proposed sale, and whether the consideration to be paid to Venoco shareholders is unfair, inadequate, and substantially below the fair and inherent value of Venoco stock. According to Thomson/First Call, at least one analyst set a price target for Venoco stock at $22.00 per share. Also, Venoco shares have traded as high as $14.94 per share as recently as July 22, 2011.
If you own common stock in Venoco 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/venoco-vq.html.
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.