Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Venoco, Inc. (“Venoco” or the “Company”) (NYSE:VQ) arising out of the proposed “going private” acquisition of Venoco by Timothy M. Marquez, the company’s Chairman and CEO (“Marquez”). Marquez currently owns approximately 50.3% of Venoco’s outstanding common stock. On Monday, August 29, 2011, Venoco announced that Marquez will acquire Venoco pursuant to an all cash offer. Under the terms of the agreement, Venoco stockholders will receive cash of $12.50 in exchange for each share of Venoco common stock. However, the Company may not have adequately shopped itself before entering into this transaction and, pursuant to this proposed transaction, Marquez may be underpaying for Venoco, thus unlawfully harming Venoco shareholders. Wolf Haldenstein has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in U.S. federal and state courts. Please visit the Wolf Haldenstein website ( http://www.whafh.com) for more information about the firm. If you own Venoco common stock and you wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact: Martin Restituyo or Derek BehnkeWolf Haldenstein Adler Freeman & Herz LLP270 Madison AvenueNew York, New York 10016Phone Numbers: (800) 575-0735(212) 545-4600 Email: firstname.lastname@example.orgClassmember@whafh.com Website: http://www.whafh.com Attorney Advertising. Prior Results Do Not Guarantee A Similar Outcome.
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.