February 21, 2013
New York, New York
Tripp Levy PLLC, a leading national securities and shareholder rights law firm, announces that it is investigating the acquisition of Berry Petroleum #$%$ behalf of shareholders. It was announced that LINN Energy and LinnCo had entered into a merger agreement to acquire Berry in a stock for stock transaction. Under the terms of the agreement, LinnCo has agreed to issue 1.25 common shares for each common share of Berry outstanding prior to the merger. The consideration to be received by Berry shareholders is valued at $46.2375 per Berry share based on LinnCo's closing price as of February 20, 2013.
The investigation concerns whether the board of directors of Berry breached their fiduciary duties by not engaging in a full and fair auction of the company to obtain the highest price possible for shareholders while not obtaining personal benefits for themselves to sell the company at this unfairly low price. Indeed, analysts have projected that Berry's true takeover value is worth at least $50 per share.
If you are a shareholder of Berry and would like to learn more about this merger and how it affects your rights as a shareholder, at no cost or obligation, please contact us toll free at 1-877-772-3975 or email at contact @ tripplevy
Tripp Levy is the leading shareholder rights firm and has recovered hundreds of millions for investors across the globe. Attorney advertising.
Nobody else is interested in BRY.
Just my opinion that deal goes ahead as is.
Lawyers might get an after-the-deal settlement that gives BRY shareholders (who owned before a date certain) a few more pennies per share. And lawyers get a multi-million $ legal fee.
Can shareholders sue the law firm if it blows the deal or just cuts their ability to cash in? The stock is off 2% on the suggestion the merger will not close, I would expect at least a 15% dive if there are any more questions.
Berry Petroleum downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Berry Petroleum (BRY) citing the takeover by LINN Energy (LINE). Wells does not expect any other buyers for Berry Petroleum to emerge.
these ambulance chasing leech lawyers should be banned from this wasteful activity unless definite wrongdoing can be proven. To raise an issue about price for a merger within minutes of a merger announcement is pure bush league action which makes those ugly lawyers look even more stupid than they already are.
I guess they got tired of trolling for clients on late night TV with their ads for anyone suffering from side effects associated with " fill in drug name here" . Mussolini was right, shoot all the lawyers.
There are now several law firms on the greed bandwagon looking for easy go-away money. They all distort the single analyst who cites a target, not a takeover value, of 50 and conveniently ignore the more than 15 analysts who produce an average target of around 41 with a low of 32. They're ghouls.