BOULDER, Colo., Nov. 11, 2009 (GLOBE NEWSWIRE) -- Advertising Material -- The Shuman Law Firm today announced that multiple law firms are investigating potential claims against the board of directors of Encore Acquisition Company ("Encore" or the "Company") (NYSE:EAC) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Denbury Resources, Inc. at a price of $50.00 per share in cash and stock ("Denbury") (NYSE:DNR).
According to one law firm, "the investigation concerns the price to be paid by Denbury to Encore shareholders and the process by which Encore's Board of Directors is addressing the transaction." Under the terms of the proposed transaction, Encore shareholders will receive $15.00 in cash and $35.00 in Denbury common stock for each Encore share owned. The law firm also states that "the proposed transaction appears to be unfair to Encore's shareholders given that the stock portion of the consideration to be paid to Encore shareholders is subject to an election feature and a price collar mechanism."
If you are interested in discussing your rights as an Encore shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
The Shuman Law Firm represents investors throughout the nation, concentrating its practice in securities class actions and shareholder derivative actions.
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