NEW YORK, June 19, 2018 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Energy XXI Gulf
Coast Inc. ("EGC" or the "Company") (NASDAQ: EGC) in connection
with the proposed acquisition of the Company by an affiliate of Cox
Oil ("Cox"). Under the terms of the agreement, EGC
shareholders will receive $9.10 in
cash for each EGC share they own.
WeissLaw is investigating whether EGC's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, the acquisition is a strategic transaction, which,
according to Cox' Chairman and CEO "expands [Cox's] presence in the
Gulf of Mexico . . . [and will] generate economies
of scale through the consolidation of assets."
Given these facts, WeissLaw is investigating whether EGC's Board
acted in the best interests of EGC's public shareholders to
maximize shareholder value prior to entering into the
agreement. If you own EGC shares and would like more
information about your rights or our investigation, or if you have
information to share with us, please contact Joshua Rubin by telephone at
(888) 593-4771 or by email at
stockinfo@weisslawllp.com.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com or fill out the
form on our website,
http://www.weisslawllp.com/energy-xxi-gulf-coast-inc/
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SOURCE WeissLaw LLP