Law Office of Brodsky & Smith, LLC Announces Investigation of Bronco Drilling, Inc.
18 Abril 2011 - 10:30PM
Business Wire
Law office of Brodsky & Smith, LLC announces that it is
investigating potential claims against the Board of Directors of
Bronco Drilling, Inc. (“Bronco” or the “Company”) (Nasdaq: BRNC)
relating to the proposed acquisition by Chesapeake Energy
Corporation (“Chesapeake”).
Under the terms of the transaction Bronco shareholders would
receive $11.00 for each share of Bronco stock they own. The
investigation concerns possible breaches of fiduciary duty and
other violations of state law by the Board of Directors of Bronco
by not acting in the Company’s shareholders' best interests in
connection with the sale process to Chesapeake. The transaction may
undervalue Bronco as the offer is lower than the April 4, 2011
Bronco share price of $11.34. Additionally, one analyst has set a
price target of $13.50 for the Company.
If you own shares of Bronco 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, or by calling toll free
877-LEGAL-90.
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