SHAREHOLDER ALERT: The Athlon Energy Inc. Acquisition By Encana Corporation May Not Be In The Best Interests of ATHL Shareholders
NEW YORK, Oct. 1, 2014 /PRNewswire/ -- The fairness of the proposed acquisition of Athlon Energy, Inc. ("ATHL" or the "Company") (ATHL) by Encana Corporation ("Encana") is the subject of an examination by WeissLaw LLP, a national class action, shareholder rights law firm. The examination is focusing on possible breaches of fiduciary duty and other violations of law by the Board of Directors of ATHL for agreeing to sell the Company to Encana. On September 29, 2014, the companies jointly announced they had reached a definitive agreement for Encana to acquire all outstanding shares of ATHL for $58.50 per common share pursuant to a tender offer.
WeissLaw is investigating whether ATHL's Board acted to maximize shareholder value prior to entering into the agreement with Encana. Notably, prior to the announcement of the deal, at least two analysts set a price target of $66.00 per share for ATHL - or $7.50 above the price offered by Encana.
Given these facts, WeissLaw is investigating the Board of Directors' decision to sell ATHL and whether ATHL's Board acted in the best interests of ATHL's public shareholders by actively shopping the Company to maximize shareholder value prior to entering into the agreement with Encana. If you own ATHL shares and would like more information about your rights or our investigation, please contact Joshua Rubin or Kelly Keenan either by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/contact/report_fraud/.
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WeissLaw LLP
Joshua Rubin
Kelly Keenan
1500 Broadway, 16th Floor
New York, NY 10036
T: 212.682.3025
F: 212.682.3010
www.weisslawllp.com
[email protected]
SOURCE WeissLaw LLP
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