WeissLaw LLP Investigates McMoRan Exploration Co. Acquisition

Before you go, we thought you'd like these...
Before you go close icon

WeissLaw LLP Investigates McMoRan Exploration Co. Acquisition

NEW YORK--(BUSINESS WIRE)-- WeissLaw LLP, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of McMoRan Exploration Co. ("McMoRan" or the "Company") (NYS: MMR) arising from its agreement for McMoRan to be acquired by Freeport-McMoRan Copper & Gold Inc. ("Freeport") (NYS: FCX) , in a transaction valued at approximately $3.4 billion. Under the terms of the proposed acquisition McMoRan shareholders will receive $14.75 in cash and 1.15 units of a royalty trust holding a 5% overriding royalty interest in future production from McMoRan's existing ultra-deep exploration properties, for each McMoRan share they own.

WeissLaw LLP is investigating whether McMoRan's Board acted in the best interests of its public shareholders by actively shopping the Company to maximize shareholder value for McMoRan's public shareholders, prior to entering into the proposed acquisition with Freeport. Additionally, at least one analyst set a price target for McMoRan stock at $21.00 per share. If you own McMoRan shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Michael A. Rogovin either by email at info@weisslawllp.com or by telephone at (888) 593-4771.


WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at info@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.

Attorney Advertising. Past results do not guarantee a similar outcome.



WeissLaw LLP
Michael A. Rogovin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
info@weisslawllp.com

KEYWORDS:   United States  North America  New York  Texas

INDUSTRY KEYWORDS:

The article WeissLaw LLP Investigates McMoRan Exploration Co. Acquisition originally appeared on Fool.com.

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners