SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of Claims of Breaches of Fiduciary Duty by the Board of Plains Expl
13 Dezember 2012 - 5:35PM
Levi & Korsinsky notifies investors of Plains Exploration &
Production Company ("PXP" or the "Company") (NYSE:PXP) of claims of
breaches of fiduciary duty and other violations of state law
against the board of directors of the Company in connection with
the sale of the Company to Freeport-McMoRan Copper & Gold Inc.
("FCX") (NYSE:FCX). A complaint was filed in Delaware state court.
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. The claims concern whether
the PXP Board of Directors breached their fiduciary duties to
stockholders by failing to adequately shop the Company before
entering into this agreement with FCX. In particular, at least one
analyst set a price target for PXP stock at $78.00 per share.
If you own common stock in PXP and wish to obtain additional
information, please contact Joseph E. Levi, Esq. either via email
at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free:
(877) 363-5972, or visit
http://zlk.9nl.com/plains-exploration-pxp/.
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. Attorney advertising. Prior results do
not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, 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
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