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Memorial Resource Development Corp. (MRD)

NASDAQ:MRD

Summary

Faruqi & Faruqi, LLP Announces the Investigation of Memorial Resource Development Corp. (MRD) Over the Proposed Sale of the Company to Range Resources Corporation

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 Memorial Resource Development Corp. (“Memorial” or the “Company”) (NASDAQ:MRD) for potential breaches of fiduciary duties in connection with the sale of the Company to Range Resources Corporation (“Range”) for approximately $4.4 billion. 

The Company’s stockholders will only receive 0.375 shares of Range common stock for each share of Company common stock they own. Based on Range’s closing price on May 19, 2016, the transaction values Memorial at a price of $14.98 per share. However, this consideration is below at least one analyst’s price target of $23.00 per share and Memorial’s 52-week high of $20.60 per share.

If you own common stock in Memorial and wish to obtain additional information and protect your investments free of charge, please fill out the form below or contact Juan Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com or by telephone at (877) 247-4292 or (212) 983-9330. 

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  • Company:
    Memorial Resource Development Corp. (MRD)
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Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

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Case Details

Date:

  • 05/20/2016

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