|[May 06, 2014]
FOREST OIL ALERT: Investigation by Johnson & Weaver of Forest Oil Corporation's Proposed Sale
SAN DIEGO --(Business Wire)--
Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Forest Oil Corporation
(NYSE: FST) breached their fiduciary duties in connection with the
proposed sale of the Company to Sabine Oil & Gas LLC.
Forest Oil Corporation is engaged in the acquisition, exploration,
development, and production of oil, natural gas, and natural gas liquids
primarily in North America.
On May 6, 2014, Forest and Sabine entered into an agreement whereby
Sabine will acquire Forest. Under the terms of the agreement, each share
of Forest common stock will be converted into 0.1 of a share of Sabine
Oil & Gas common stock. The combined entity is to be named Sabine Oil &
Gas Corporation and is expected to list on the New York Stock Exchange.
Nationally recognized Johnson & Weaver, which focuses its practice on
shareholder rights, is investigating whether the propsed deal price
represents adequate consideration, especially given the unknowns
surrounding the value of the transaction.
"Forest is a publicly traded company with a tangible value," said
Johnson & Weaver attorney Scott Holleman. "Forest's directors are
required to do everything they can to maximize shareholder value. How
can a shareholder value this deal when the stock they are receiving
doesn't yet trade on a stock exchange?"
If you are a shareholder of Forest Oil and believe 1) the
proposed deal is too vague or 2) the deal favors the officers and
directors and not the shareholders or 3) you're interested in learning
more about the investigation or your legal rights and remedies,
please contact Johnson & Weaver's lead analyst Jim Baker at firstname.lastname@example.org
Johnson & Weaver is also investigating whether the Company's directors
thoroughly considered alternatives to the proposed acquisition, such as
continuing on as an independent company or pursuing a deal with another
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law
firm with offices in California and New York. The firm represents
individual and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the firm
and its attorneys, please visit http://www.johnsonandweaver.com.
Attorney advertising. Past results do not guarantee future outcomes.
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