EPL INVESTOR ALERT: Faruqi & Faruqi, LLP Announces the Investigation of EPL Oil & Gas (EPL) Over the Proposed Sale of the Company to Energy XXI
Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of EPL Oil & Gas, Inc. (“EPL” or the “Company”) (NYSE: EPL) for potential breaches of fiduciary duties in connection with the sale of the Company to Energy XXI for approximately $2.3 billion. The Company’s shareholders have the choice to receive either $39 dollars cash, 1.669 common shares of Energy XXI, or a combination of cash and stock each share of EPL common stock they own.
The investigation focuses on whether EPL’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of EPL’s shareholders.
If you own common stock in EPL and wish to obtain additional information and protect your investments free of charge, please contact Juan E. Monteverde, Esq. either via e-mail at firstname.lastname@example.org or by telephone at (877) 247-4292 or (212) 983-9330.