Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Harvest Natural Resources, Inc. (“Harvest Natural” or the “Company”) (NYSE: HNR) relating to the proposed acquisition by Pluspetrol Venezuela S.A. (“Pluspetrol”).
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It has been reported that Harvest Natural has entered into exclusive talks to sell its outstanding shares to Pluspetrol for consideration of approximately $373 million. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Harvest Natural for not acting in the Company’s shareholders' best interests in connection with the sale process. The transaction may undervalue the Company as Harvest Natural stock traded at $10.25 per share on January 4, 2013 and the Company’s global exploration portfolio is positive with its principal operations in Venezuela and Russia.
In addition, the investigation seeks to determine if the Board of Directors' actions or inactions may have led to Harvest Natural’s previous announcement that it intended to file amendments/restatements for the quarters ended March 31, 2012, June 30, 2012 and September 30, 2012.
If you own shares of Harvest Natural common 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
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Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.