Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of Crimson Exploration Inc. by
Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of Crimson Exploration Inc. by Contango Oil & Gas Company
On April 30, 2013, Crimson announced that it had agreed to be acquired by Contango in an all-stock transaction. Under the merger agreement, each share of Crimson stock will be converted into 0.08288 shares of Contango stock. Based on Contango's closing stock price on April 29, 2013, the transaction represents an implied price per share for Crimson of $3.19, a premium of less than 8% over the closing price of Crimson stock on April 29, 2013.
Moreover, Mr. Allan D. Keel, Crimson's CEO and President, and Mr. E. Joseph Grady, Crimson's CFO, have each signed employment agreements to continue in the same roles at the combined company.
Wohl & Fruchter's investigation concerns the potential unfairness of the consideration being provided to Crimson shareholders, and whether approval of the merger was improperly motivated by post-closing employment arrangements, or other conflicts of interest.
Additional information is available at http://www.wohlfruchter.com/cases/cxpo.
Persons with relevant information, and Crimson shareholders with questions about this investigation, are invited to contact our Firm by calling 866.582.8140, or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from fraud and other fiduciary breaches by corporate managers, as well as other complex litigation matters. Please visit our website, www.wohlfruchter.com, to learn more about our Firm, or contact one of our partners.
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