The Shuman Law Firm today announced that it is investigating potential claims against the Board of Directors of EXCO Resources, Inc. relating to the Board's November 1, 2010 announcement that its Chairman and Chief Executive Officer, Douglas H. Miller ("Miller"), had submitted to the Board a proposal to purchase all of the outstanding shares of the Company's stock that Miller does not already own for $20.50 per share.
The Proposed Transaction is to be financed by Miller and three of the Company's largest shareholders: Oaktree Capital Management, L.P. ("Oaktree"), Ares Management LLC and T. Boone Pickens. Thereafter, in a November 4, 2010 press release, the Board announced that it had appointed directors Vincent J. Cebula ("Cebula") and Mark F. Mulhern ("Mulhern") to a special committee (the "Special Committee") to consider the Proposed Transaction. The investigation concerns whether the Special Committee is able to consider the Proposed Transaction disinterestedly and consistent with its fiduciary duties to EXCO's shareholders.
If you currently own shares of EXCO and are interested in discussing your rights as an shareholder, or have information relating to this investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free at (866) 974-8626 or email Mr. Shuman at kip@shumanlawfirm.com or Mr. Glenn at rusty@shumanlawfirm.com.
No comments:
Post a Comment