Law Firm of Wohl & Fruchter Commences Investigation into Acquisition of Crimson Exploration Inc. by Contango Oil & Gas Company
The law firm of Wohl & Fruchter LLP is investigating the proposed
acquisition of Crimson Exploration, Inc. (Crimson) (NASDAQ: CXPO) by
Contango Oil & Gas Company (Contango).
On April 30, 2013, Crimson announced that it had agreed to be acquired
by Contango in an all-stock transaction. Under the merger agreement,
each share of Crimson stock will be converted into 0.08288 shares of
Contango stock. Based on Contango’s closing stock price on April 29,
2013, the transaction represents an implied price per share for Crimson
of $3.19, a premium of less than 8% over the closing price of Crimson
stock on April 29, 2013.
Moreover, Mr. Allan D. Keel, Crimson’s CEO and President, and Mr. E.
Joseph Grady, Crimson’s CFO, have each signed employment agreements to
continue in the same roles at the combined company.
Wohl & Fruchter’s investigation concerns the potential unfairness of the
consideration being provided to Crimson shareholders, and whether
approval of the merger was improperly motivated by post-closing
employment arrangements, or other conflicts of interest.
Additional information is available at http://www.wohlfruchter.com/cases/cxpo.
Persons with relevant information, and Crimson shareholders with
questions about this investigation, are invited to contact our Firm by
calling 866.582.8140, or contacting the attorney below.
About Wohl & Fruchter
Wohl & Fruchter LLP represents plaintiffs in litigation arising from
fraud and other fiduciary breaches by corporate managers, as well as
other complex litigation matters. Please visit our website, www.wohlfruchter.com,
to learn more about our Firm, or contact one of our partners.
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