DALLAS, May 1, 2012 /PRNewswire/ -- Securities lawyers at Goldfarb LLP announce an investigation into alleged violations of shareholder protection laws by officers and directors of GeoResources, Inc. (NASDAQ: GEOI) in connection with a buyout agreement for $37.97 per share to Halcon Resources Corporation. Concerned GEOI investors are encouraged to contact attorney Hamilton Lindley at 877-583-2855 or firstname.lastname@example.org about their rights and remedies. "The agreement represents a mere 24% premium when at least one analyst has targeted GEOI stock value at $43 per share," said Hamilton Lindley. "Our proposed investor class action seeks to ensure that the board has adequately shopped the company and is disclosing all material benefits and costs so that GEOI shareholders' interests are protected in accordance to the board of directors' fiduciary duties." Goldfarb LLP lawyers have significant experience representing shareholders and whistleblowers in securities lawsuits nationwide GEOI stockholders – or anyone with knowledge about this acquisition – should contact lawyer Hamilton Lindley at email@example.com or 877-583-2855 with questions or concerns. Hamilton Lindley Goldfarb LLP2501 N. Harwood, Ste. 1801 Dallas, TX 75201(877) 583-2855 Toll Free Telephone (214) 583-2233 Local Phone Number (214) 583-2234 Fax Number www.goldfarbllp.com SOURCE Goldfarb LLP
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.