NEW YORK, May 2, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Crimson Exploration Inc. ("Crimson" or the "Company") (NasdaqGM: CXPO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Contango Oil & Gas Company ("Contango") (NYSE MKT: MCF).
Click here to learn more about the investigation http://zlk.9nl.com/crimson-exploration-cxpo/ , or call: 877-363-5972. There is no cost or obligation to you.
Under the terms of the transaction, Crimson shareholders will receive 0.08288 shares of Contango stock for each share of Crimson stock they own, representing a value of approximately $3.19 per share. The investigation concerns whether the Crimson Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into the transaction, and whether Contango is underpaying for Crimson stock, thus unlawfully harming Crimson stockholders. In particular, Crimson shares have traded as high as $3.55 per share as recently as April 11, 2013. Furthermore, at least one analyst set a price target for Crimson stock at $6.00 per share.If you own common stock in Crimson and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/crimson-exploration-cxpo/ . Levi & Korsinsky is a national firm with offices in New York, New Jersey and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes. CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq.30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171 www.zlk.com SOURCE Levi & Korsinsky, LLP