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Law Office of Brodsky & Smith, LLC Announces Investigation of Berry Petroleum Co.
* Reuters is not responsible for the content in this press release.
http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130302:nBw025015a
BALA CYNWYD, Pa.--(Business Wire)--
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) 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 investorrelations@brodsky-smith.com
visiting http://brodsky-smith.com/544-bry-berry-petroleum-co.html, by calling
toll free 877-LEGAL-90.
Brodsky & Smith, LLC
Jason L. Brodsky, Esquire
Evan J. Smith, Esquire
877-LEGAL-90
investorrelations@brodsky-smith.com
http://brodsky-smith.com/544-bry-berry-petroleum-co.html
Copyright Business Wire 2013
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