HALCÓN INVESTOR ALERT BY THE FORMER ATTORNEY GENERAL OF LOUISIANA: Kahn Swick & Foti, LLC Investigates Proposed Amendment of...
March 31 2015 - 12:42PM
Business Wire
Former Attorney General of Louisiana, Charles C. Foti, Jr.,
Esq., a partner at the law firm of Kahn Swick & Foti, LLC
(“KSF”), announces that KSF has commenced an investigation into
Halcón Resources Corporation (NYSE: HK).
On March 30, 2015, Halcón filed a Definitive Proxy Statement
with the U.S. Securities and Exchange Commission, which asked
shareholders to approve a proposed amendment of a Convertible Note
and Warrants held by HALRES, one at the Company’s largest
shareholders, at the upcoming annual shareholder meeting on May 6,
2015. The proposed amendment would extend the terms of the
Convertible Note and Warrants by an additional three years (from
2017 to 2020) and reduce the conversion and exercise prices from
$4.50 to $2.44 per share. The Proxy Statement, however, failed to
disclose, among other things: (i) the negotiations between a
special committee of the Company’s board of directors and HALRES
regarding the amendments; (ii) what, if any, alternative
arrangements were considered; and (iii) the underlying analysis of
the special committee’s advisor.
KSF’s investigation is focusing on whether Halcón’s officers
and/or directors breached their fiduciary duties to Halcón’s
shareholders or otherwise violated state or federal laws.
If you are a Halcón shareholder and wish to discuss your legal
rights or have information that would assist KSF in its
investigation, you may, without obligation or cost to you, call
toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis
Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities
class action and shareholder derivative litigation with offices in
New York, California and Louisiana. KSF's lawyers have significant
experience litigating complex securities class actions nationwide
on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
877-515-1850lewis.kahn@ksfcounsel.com
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