APCO OIL SHAREHOLDER ALERT: Johnson & Weaver, LLP Launches an Investigation into the Proposed Sale of Apco Oil & Gas Internat...
October 03 2014 - 8:59AM
Business Wire
Shareholder rights law firm Johnson & Weaver, LLP has
launched an investigation into whether the board members of Apco
Oil and Gas International Inc. (NASDAQ:APAGF) breached their
fiduciary duties in connection with the proposed sale of the
Company to Pluspetrol Resources Corporation.
Additional Information:Apco explores and produces for oil and
gas in South America. Its producing operations are located in the
Neuquén, Austral, San Jorge, and Northwest basins in Argentina; and
in the Llanos basin in Colombia.
On October 3, 2014, Apco announced it had signed a definitive
agreement with Pluspetrol. Under the terms of the agreement,
Pluspetrol will acquire all outstanding shares of Apco Class A and
ordinary shares for $14.50 per share in cash.
The investigation concerns whether Apco’s board failed to
satisfy their duties to the Company’s 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. The $14.50 per share
acquisition price is far less than where the stock had traded
several months ago at $16.04.
If you are a shareholder of Apco and believe the proposed
buyout price is too low and you are interested in learning more
about the investigation or your legal rights and remedies,
please contact lead analyst Jim Baker (jimb@johnsonandweaver.com)
at 619-814-4471.
About Johnson & Weaver, LLP:Johnson & Weaver, LLP is a
nationally recognized shareholder rights law firm with offices in
California, New York and Georgia. The firm represents individual
and institutional investors in shareholder derivative and
securities class action lawsuits. For more information about the
firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results
do not guarantee future outcomes.
Johnson & Weaver, LLPJim Baker,
619-814-4471jimb@johnsonandweaver.com