Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/mmr) is investigating potential claims against the board of directors of McMoRan Exploration Co. (“MMR” or the “Company”) (NYSE: MMR) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Freeport-McMoRan Copper & Gold Inc. ("FCX") in a transaction valued at approximately $3.4 billion. Our investigation concerns possible breaches of fiduciary duty and other violations of law related to the approval of the transaction by the Company’s board of directors; in particular, whether the Company undertook a fair process to obtain fair consideration for all shareholders of MMR. 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 email@example.com or visit: www.rmclasslaw.com/cases/mmr. Under the terms of the proposal, public shareholders of MMR will receive $14.75 in cash and 1.15 units of a royalty trust, which will hold a 5 percent overriding royalty interest in future production from MMR’s existing ultra-deep exploration properties, for each share of MMR they own. If you own shares of MMR 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/mmr. You may also email Mr. Maniskas at firstname.lastname@example.org. 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.
McMoRan Exploration (NYSE:MMR) hit a new 52-week high Tuesday as it is currently trading at $16.17, above its previous 52-week high of $16.13 with 84,782 shares traded as of 9:39 a.m. ET. Average volume has been 5.4 million shares over the past 30 days.