INVESTOR ALERT: Louisiana Based Brannon Law Firm, L.L.C. Is Investigating The Buyout Of Louisiana Based McMoRan Exploration Co. By Freeport-McMoRan Copper & Gold, Inc.
Brannon Law Firm, L.L.C., a Metairie, Louisiana based securities litigation law firm, announces that it is commencing an investigation into the Board of Directors of McMoRan Exploration Co. ("MMR" or the "Company") (NYSE: MMR) to determine whether it has breached its fiduciary duties and other possible violations of state law in connection with the sale of MMR to Freeport-McMoRan Copper & Gold, Inc. (NYSE: FCX). The transaction values MMR at $3.4 billion in cash. Under the terms of the transaction, MMR shareholders will receive $14.75 in cash and 1.15 units of a royalty trust for each share they hold; the trust will hold a 5% royalty interest in future production from MMR’s ultra-deep exploration properties.
The investigation is focused on the potential unfairness of the consideration to MMR shareholders and whether MMR’s Board of Directors acted in the shareholders’ best interest and properly shopped the company before entering into the acquisition agreement with Freeport-McMoRan Copper & Gold, Inc. At least one analyst set a price target for MMR stock at $21.00 per share.
If you have information relevant to this investigation that you would like to share with us in furtherance of the shareholders’ interest in this matter, then please call us right away.
If you own this stock and wish to know more about this matter and/or how it affects your rights then please contact us immediately. There is no obligation or cost to you when you contact us.You may contact us by email or telephone through Paul M. Brannon [email: PMB@BrannonLawFirm.com] / [Telephone (504) 456-8696]. Brannon Law Firm, L.L.C.Paul M. Brannon3500 North Hullen StreetMetairie, Louisiana 70002Phone: 504-456-8696Fax: 504-456-8697 PMB@BrannonLawFirm.com
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV