Berry Petroleum Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Linn Energy
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Berry Petroleum Co. ("Berry") (NYS: BRY) to Linn Energy, LLC for shareholders. Under the terms of the proposed deal valued at approximately $2.5 billion, Berry shareholders will receive 1.25 shares of LinnCo LLC. Based on Wednesday's closing prices, the proposed consideration is valued at approximately $46.24 per share, well below at least one analyst's estimated value of $50.00 per share and the 52-week high of $57.26.
If you are an affected investor, and you want to learn more about the lawsuit or join the action, please contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, via email at WBriscoe@TheBriscoeLawFirm.com or Zach Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at email@example.com. There is no cost or fee to you.
The Berry sale investigation centers on whether Berry's shareholders are receiving adequate compensation for their shares in the proposed deal, whether the transaction undervalues Berry's stock, and whether Berry's board attempted to obtain the highest share price for all shareholders prior to agreeing to the deal. Notably, at least one analyst with Yahoo! Finance estimates that the true inherent value of Berry could be as high as $50.00 per share. According to shareholder rights attorney Patrick Powers, "based on the size of the deal, the proposed sale price and other factors, we believe this transaction may undervalue Berry's stock. Our proposed lawsuit will seek to obtain the highest share price for all shareholders."
The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
KEYWORDS: United States North America Texas
The article Berry Petroleum Shareholder Alert: Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to Linn Energy originally appeared on Fool.com.
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