July 11, 2012
Harwood Feffer LLP (
) is investigating potential claims against the board of directors of Lone Pine Resources Inc. ("
" or the "Company") (NYSE: LPR), concerning whether the board has breached its fiduciary duties to shareholders.
is an oil and gas exploration company operating primarily in Canada. The Company went public on
May 26, 2011
when it sold 15 million shares at
each. The Company's Registration Statement and Prospectus identified numerous potential risk factors to
's business, such as pipeline disruptions, adverse weather conditions and fires. However, the Prospectus failed to disclose that
had already experienced, and was still being damaged by, several of these adverse events, including a pipeline rupture in
and a large forest fire in early May 2011.
, when the Company announced its second quarter 2011 financial results, it finally disclosed the pipeline disruption and resulting financial damage to the Company. Investors reacted negatively and the Company's share price declined nearly 30% in one week to close at
stock has since dropped even further below the IPO price, and is currently trading at approximately
Our investigation concerns whether the
board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own
shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq.
Matthew M. Houston, Esq.
Robert I. Harwood, Esq.
Harwood Feffer LLP488 Madison Avenue
New York, New York
10022Phone Numbers: (877) 935-7400 (212)935-7400Email:
has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (
) for more information about the firm.
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). Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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