Levi & Korsinsky, LLP Investigates Possible Breach of Fiduciary Duty by the Board of Meridian Resource Corp. - TMR
24 Dicembre 2009 - 4:03PM
Business Wire
Levi & Korsinsky is investigating the Board of Directors of
Meridian Resource Corp. (“Meridian” or the “Company”) (NYSE: TMR)
for possible breaches of fiduciary duty and other violations of
state law in connection with their attempt to sell the Company to
Alta Mesa Holdings LP . Under the terms of the transaction,
Meridian shareholders will receive $0.29 in cash for each Meridian
share of common stock they own for a total transaction value of
approximately $26.8 million.
The investigation concerns whether the Meridian Board of
Directors breached their fiduciary duties to Meridian shareholders
given that (i) Meridian stock traded as high as $0.51 as recently
as September 10, 2009; (ii) the Company has a book value of $0.56
per share; and (iii) at least one analyst set a price target for
Meridian stock at $2.50 per share.
If you own common stock in Meridian and wish to obtain
additional information, please contact us at the number listed
below or visit http://www.zlk.com/tmr1.html.
Levi & Korsinsky has expertise in prosecuting investor
securities litigation and extensive experience in actions involving
financial fraud and represents investors throughout the nation,
concentrating its practice in securities and shareholder
litigation.
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