Petrohawk Energy Corp (HK) Shareholder LawsuitOur law firm's investigation believes the price may be too low resulting in harm to Petrohawk investors. A potential shareholder lawsuit would maximize the amount of money investors receive and provide full information & transparency about the proposed transaction.
Kyros Law Investigating Claims on Behalf of Investors of Petrohawk Energy Corp.
Kyros Law is investigating potential claims on behalf of investors of Petrohawk Energy Corp. concerning the Company's acquisition by BHP Billiton Ltd. for $12.1 billion.
Our investigation relates to whether the Company's board of directors is breaching its fiduciary duties by failing to adequately shop the Company to interested parties and maximize shareholder value in this sale. Under the terms of the agreement, Petrohawk shareholders would receive $38.75 per share in cash for each share of HK common stock.
We are investigating whether BHP has paid a fair price for Petrohawk and whether this was a "back room" deal. According to our review the purchase price seems to be below the economics of similar energy and mining company acquisitions.
Following news of the deal Petrohawk shares rose from $23.49 to $38.39 in after hours trading. Petrohawk HK shares traded at $47.90 per share in 2008. Additionally, recent history shows that Petrohawk Energy Corporation has performed very well for its investors: total revenue rose from $883.40 million in 2007 to nearly $1.6 billion in 2010. Why $38.75?
If you are a shareholder of any amount of Petrohawk please call Attorney Bill Kyros at 1-800-934-2921 to discuss your rights. If you are interested, it is important to act now as an investor will almost certainly come forward to file a case in the next several days.
We are also investigating allegations of insider trading related to this sale. Option traders have cited unusual activity on Thursday July 14 before the announced deal. If you know about insider trading and wish to report it to the SEC call us.
For info about our law firm please our Kyros Law web site.
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