SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Rosetta Resources Inc. And Encourages In...
May 13 2015 - 3:32PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Rosetta Resources Inc. (“Rosetta”
or the “Company”) (Nasdaq: ROSE) relating to the proposed buyout of
the Company by Noble Energy, Inc.
Under the terms of the transaction, Rosetta shareholders are
anticipated to receive 0.542 shares of Noble stock for each share
of Rosetta that they own, representing an implied price per share
of $26.62 based on Noble’s closing price on May 8, 2015. The
transaction may undervalue Rosetta and may result in a substantial
loss for many shareholders. For example, according to Yahoo!
Finance, at least one Wall Street analyst has issued a price target
for Rosetta stock at $36.00 per share.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Rosetta and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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