SHAREHOLDER ALERT: The Law Firm of Levi & Korsinsky, LLP
Announces Investigation of Plains Exploration & Production
Company and McMoRan Exploration Co.
NEW YORK, Dec. 5, 2012 /PRNewswire/ --
Plains Exploration & Production
Company
Levi & Korsinsky is investigating
the Board of Directors of Plains Exploration & Production
Company (NYSE: PXP) for possible breaches of fiduciary duty and
other violations of state law in connection with the sale of the
Company to Freeport-McMoRan Copper & Gold Inc. ("FCX") (NYSE:
FCX).
(Logo: http://photos.prnewswire.com/prnh/20120409/MM84375LOGO
)
Click here to learn more about the investigation:
http://zlk.9nl.com/plains-exploration-pxp/, or call:
877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, PXP shareholders will
receive 0.6531 shares of FCX common stock and $25.00 in cash for each share of PXP stock they
own, representing a total consideration of $50.00 per PXP share. At least one analyst set a
price target for PXP stock at $78.00
per share.
McMoRan Exploration Co.
Levi &
Korsinsky is investigating the Board of Directors of McMoRan
Exploration Co. (NYSE: MMR) for possible breaches of fiduciary duty
and other violations of state law in connection with the sale of
the Company to Freeport-McMoRan Copper & Gold Inc. (NYSE:
FCX).
Click here to learn how to join the action:
http://zlk.9nl.com/mcmoran-exploration-mmr/, or call:
877-363-5972.
Under the terms of the transaction, MMR shareholders will
receive $14.75 in cash and 1.15 units
of a royalty trust for each share they hold; the trust will hold a
5% royalty interest in future production from MMR exploration
properties in ultra-deepwater territories. The transaction values
MMR at $3.4 billion in cash. At least
one analyst set a price target for MMR stock at $21.00 per share.
Levi & Korsinsky is a national firm with offices in
New York and Washington D.C.
The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not
guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi,
Esq.
Eduard Korsinsky,
Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
www.zlk.com
SOURCE Levi & Korsinsky, LLP