The Law Office of Joseph Klein is investigating the Board of Directors of Venoco, Inc. (NYSE: VQ) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed acquisition of the Company by Venoco’s Chairman and CEO, Timothy Marques, for $12.50 per share. Marques currently owns 50.3% of Venoco’s shares. To receive more information, click here: http://www.jkleinlawfirm.com/venoco-inc.html. The investigation concerns whether the Board is acting in Venoco shareholders’ best interests in connection with the proposed sale, and whether the consideration to be paid to Venoco shareholders is unfair, inadequate, and substantially below the fair and inherent value of Venoco stock. According to Yahoo! Finance, at least one analyst set a price target for Venoco stock at $22.00 per share and Venoco shares have traded as high as $14.75 per share as recently as July 22, 2011. If you own common stock in Venoco and wish to obtain additional information, please contact Joseph Klein, Esq. directly, via email at email@example.com, by telephone at 718-947-0005, Toll Free: 877-STOK-180, or visit http://www.jkleinlawfirm.com/venoco-inc.html. Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
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.