The Law Firm of Weiss & Lurie Investigates the Acquisition of Bronco Drilling Company, Inc.
15 Abril 2011 - 1:35PM
Business Wire
Weiss & Lurie, a national class action and shareholder
rights law firm with offices in New York City and Los Angeles, is
investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Bronco Drilling
Company, Inc. (NASDAQ: BRNC) arising from its proposed acquisition
by Chesapeake Energy Corporation (NYSE:CHK).
Under the terms of the tender offer, Bronco stockholders will
receive $11 per share. Shareholders collectively owning over 32% of
Bronco’s outstanding stock have committed to tender all of their
shares to Chesapeake. The acquisition is expected to close in the
second quarter of 2011.
Weiss & Lurie is investigating whether Bronco’s Board acted
in the best interests of shareholders in approving the transaction
and whether the Board properly sought to maximize shareholder
value. The offer price represents a mere 6% premium over the
pre-announcement closing price of Bronco stock on April 14, 2011.
Indeed, Bronco stock traded above the $11 offer price as recently
as April 6, 2011, and at least two analysts set Bronco’s target
price at $13.50.
If you own Bronco shares and would like more information about
your rights as a shareholder or additional information concerning
our investigation, please contact Julia J. Sun either by email at
infony@weisslurie.com or by telephone at (888) 593-4771.
Weiss & Lurie 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
institutions and individuals and obtained important corporate
governance in these cases. If you have information or would like
legal advice concerning possible corporate wrongdoing (such as
insider trading, waste of corporate assets, accounting fraud, or
issuing materially misleading press releases or SEC filings),
consumer fraud (such as false advertising, defective products, or
other deceptive business practices), or anti-trust violations,
please email us at infony@weisslurie.com or fill out the form on
our website, http://www.weisslurie.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar
outcome.
Weiss & LurieJulia J. Sun, Esq.1500 Broadway, 16th FloorNew
York, NY 10036T: 212.682.3025F: 212.682.3010www.weisslurie.com
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