BALA CYNWYD, Pa., May 14, 2014 /PRNewswire/ -- Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Forest Oil Corporation ("Forest Oil" or the "Company") (NYSE –FST-News) relating to the proposed acquisition by Sabine Oil & Gas LLC ("Sabine").
Click here to learn more about the investigation http://brodsky-smith.com/759-fst-forest-oil-corporation.html, or call: 877-534-2590. There is no cost or obligation to you.
Under the terms of the transaction Forest Oil shareholders will receive only 0.1 share of Sabine common stock for each share of Forest oil stock they own. Forest Oil shareholders are expected to own only approximately 26.5% of the combined company. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Forest Oil for not acting in the Company's shareholders' best interests in connection with the sale process.
The transaction may undervalue the Company as once the transaction is completed Sabine will own one of the largest stakes in East Texas and will have an estimated proved reserves of 1.5 trillion cubic feet equivalent of gas and daily production of 345 million cubic feet in 2014. Further, Forest Oil shareholders are being paid for their shares by the assets of a non-public Company.
If you own shares of Forest Oil common stock and wish to discuss the legal ramifications of the proposed transaction, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at investorrelations@brodsky-smith.com, by visiting http://brodsky-smith.com/759-fst-forest-oil-corporation.html, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and case action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Law Office of Brodsky & Smith, LLC
