Harwood Feffer LLP ( www.hfesq.com) is investigating potential claims against the board of directors of Venoco, Inc. ("Venoco" or the "Company") (NYSE: VQ) concerning the proposed acquisition of the Company by the Company’s CEO and Chairman, Timothy Marquez in a transaction valued at approximately $382 million.
On August 29, 2011, it was announced that Marquez, who currently holds approximately 50.3% of the company’s stock, has offered $12.50 per share for the remaining outstanding shares. The Company’s shares have traded as high as $22.22 as recently as February 2, 2011 and at least one analyst has set a target for the stock of $22.00. Our investigation concerns whether the board of directors is undertaking a fair process, adequately shopping the Company, and disclosing all material information to shareholders before taking any action in connection with the proposed transaction.
If you own shares of Venoco and would like to learn more about these claims or if you wish to discuss this matter and have any questions or information concerning this announcement, please contact Daniella Quitt, Esq. at firstname.lastname@example.org or Benjamin Sachs-Michaels at email@example.com. You may also call them at (877) 935-7400. For more information about class actions, or to sign up online, please visit our website: www.hfesq.com.
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