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 email@example.com, or by calling toll free 877-LEGAL-90.