Investigation of Potential Action on Behalf of Current Contango Oil & Gas Company (NYSE: MCF) Shareholders
Contango Oil & Gas Company (“Contango”) is an independent oil and natural gas company that acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming.
Kessler Topaz Meltzer & Check, LLP (“Kessler Topaz”) is investigating claims on behalf of current shareholders of Contango in connection with the proposed acquisition of Contango by privately held Independence Energy, LLC (“Independence”). Under the terms of the merger agreement, Independence will become a publicly traded company. Upon consummation of the transaction, Independence shareholders will own approximately 76% and Contango shareholders will own only 24% of the combined company. The all-stock transaction is valued at $5.7 billion.
Kessler Topaz’s investigation seeks to determine whether the proposed transaction provides adequate compensation to Contango stockholders, and whether Contango’s officers and/or directors violated securities laws or breached their fiduciary duties to Contango stockholders in connection with the acquisition.
If you currently own shares of Contango Oil & Gas Company (NYSE: MCF) and would like to learn more about our investigation, please fill out our online form or contact James Maro at (484) 270-1453 or Adrienne Bell at (484) 270-1435 or toll free at (844)-887-9500; or via email at info@ktmc.com.