EPL Epl Oil & Gas

Shareholder rights law firm Johnson & Weaver, LLP is investigating whether members of the board of directors of EPL Oil & Gas, Inc. (NYSE:EPL) breached their fiduciary duties in connection with the proposed buyout of the Company by Energy XXI.

On March 12, 2014, Energy XXI entered into a definitive merger agreement to buy EPL Oil & Gas. Under the terms of the agreement, EPL shareholders will receive a total value estimated at $39 per share. The transaction is valued at approximately $2.3 billion.

The investigation concerns whether EPL’s board members 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.

Jim Baker, lead analyst for Johnson & Weaver, stated that, “Energy XXI’s offer appears to be inadequate and not in the best interest of EPL’s shareholders.” Baker cited, “At least one analyst estimates EPL to be valued at $44.00 per share, which is far more than the $39 anticipated deal value.”

If you are an EPL shareholder and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (jimb@johnsonandweaver.com) at 619-230-0063 Ext.118. If you email, please include your phone number.

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California and New York. 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, 619-230-0063 Ext. 118jimb@johnsonandweaver.com

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