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CREDO Petroleum Corporation (CRED)

(NASDAQ: CRED)

Summary

Faruqi & Faruqi, LLP Announces Investigation of CREDO Petroleum Corporation (CRED)

Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of CREDO Petroleum Corporation (“CREDO” or the “Company”) (NASDAQ: CRED) for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Forestar Group Inc. (NYSE: FOR) in an all-cash deal valued at about $146 million. Under the terms of the proposed transaction, CREDO’s stockholders will receive $14.50 in cash for each share of CREDO common stock they own.

Whether CREDO’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct an adequate and fair sales process prior to agreeing to this proposed transaction, whether the proposed transaction undervalues CREDO’s shares and by how much this proposed transaction undervalues the Company to the detriment of CREDO’s shareholders are the key focus of this investigation.

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    CREDO Petroleum Corporation (CRED)
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Contact Counsel

Juan E. Monteverde
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

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