Goldfarb Branham LLP is investigating potential shareholder claims against the board of directors of Venoco, Inc. (NYSE: VQ) concerning the proposed takeover of Venoco by its CEO and Chairman for $12.50 per share. Concerned investors should contact Hamilton Lindley, a securities attorney, at 877-583-2855 or firstname.lastname@example.org about their rights and remedies. “Venoco’s CEO holds approximately 50.3% of the company’s stock,” Hamilton Lindley said. “The company’s shares have traded at $22.22 as recently as February 2, 2011 and at least one analyst has set a target for the stock of $22.00. Our proposed class action lawsuit seeks to ensure the board conducted a fair process, disclosed all material information to shareholders and agreed to sell for the highest value possible.” Goldfarb Branham LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide. Venoco investors—or anyone with knowledge about these issues at the company—should contact lawyer Hamilton Lindley at email@example.com or 877-583-2855.
Venoco Incorporated (NYSE:VQ) is trading at unusually high volume Wednesday with 1.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.15 (-10.8%).
Shares of Venoco Incorporated (NYSE:VQ) were gapping up Tuesday morning with an open price 44.6% higher than Friday's closing price. The stock closed at $7.69 yesterday and opened today's trading at $11.12.
Venoco Incorporated (NYSE:VQ) hit a new 52-week low Thursday as it is currently trading at $6.66, below its previous 52-week low of $6.67 with 197,487 shares traded as of 2:54 p.m. ET. Average volume has been 362,000 shares over the past 30 days.