NEW YORK, March 14, 2014 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of EPL Oil & Gas, Inc. ("EPL" or "the Company") (NYSE: EPL) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Energy XXI ("XXI") (Nasdaq: EXXI).

Click here to learn more about the action http://zlk.9nl.com/epl-oil-epl, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the transaction, EPL shareholders may elect to receive either $39.00 in cash, 1.669 common shares of Energy XXI, or $25.35 in cash plus 0.584 common shares of Energy XI for each share of EPL common stock they own. The investigation concerns whether the EPL Board breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether XXI is underpaying for EPL shares. In particular, at least one analyst set a price target for EPL stock at $44.00 per share.

If you own EPL common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/epl-oil-epl.

Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510  
www.zlk.com

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SOURCE Levi & Korsinsky, LLP