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Law Office of Brodsky & Smith, LLC Announces Investigation of Berry Petroleum Co.
By: PR Newswire
Feb. 25, 2013 09:00 PM
BALA CYNWYD, Pa., Feb. 25, 2013 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Berry Petroleum Co. ("Berry Petroleum" or the "Company") (NYSE- BRY-News) relating to the proposed acquisition by an affiliate of Linn Energy LLC ("Linn Energy").
Under the terms of the transaction, Berry Petroleum shareholders will receive only $46.24 in cash for each share of Berry Petroleum stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Berry Petroleum for not acting in the Company's shareholders' best interests in connection with the sale process to Linn Energy. The transaction may undervalue the Company and will result in a loss for many long term shareholders. For example Berry Petroleum stock traded at $55.74 as recently as February 28, 2012 and $60.24 on July 25, 2011. In addition, an analyst has set a $50.00 per share price target for Berry Petroleum stock.
If you own shares of Berry Petroleum stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at firstname.lastname@example.org visiting http://brodsky-smith.com/544-bry-berry-petroleum-co.html, by calling toll free 877-LEGAL-90.
SOURCE Brodsky & Smith, LLC
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