Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/geoi) is investigating potential claims against the board of directors of GeoResources, Inc. (“GeoResources” or the “Company”) (NASDAQ: GEOI) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s efforts to sell GeoResources to Halcon Resources Corp. in a transaction valued at approximately $1 billion. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of GeoResources. For more information regarding our investigation, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/geoi. Under the terms of the transaction, GeoResources shareholders will receive $20 in cash and 1.932 shares of Halcon stock for each GeoResources share they own. If you own shares of GeoResources and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/geoi. You may also email Mr. Maniskas at email@example.com. For more information about class action cases in general, please visit our website: www.rmclasslaw.com. Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
GeoResources (Nasdaq:GEOI) hit a new 52-week high Tuesday as it is currently trading at $38.34, above its previous 52-week high of $38.25 with 86,308 shares traded as of 1:35 p.m. ET. Average volume has been 350,900 shares over the past 30 days.
GeoResources (Nasdaq:GEOI) hit a new 52-week high Friday as it is currently trading at $37.31, above its previous 52-week high of $37.17 with 802,609 shares traded as of 3:14 p.m. ET. Average volume has been 314,900 shares over the past 30 days.
Shares of GeoResources (Nasdaq:GEOI) were gapping up Wednesday morning with an open price 17.4% higher than Tuesday's closing price. The stock closed at $30.77 yesterday and opened today's trading at $36.13.