A lawsuit was filed for investors in shares of Stone Energy Corporation (NYSE:SGY) in connection with the proposed takeover and NYSE:SGY stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/14/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Stone Energy Corporation (NYSE:SGY), filed a lawsuit against the acquisition of Stone Energy Corporation by Talos Energy LLC.
Investors in shares of Stone Energy Corporation (NYSE:SGY) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:SGY stockholders by agreeing to sell Stone Energy Corp cheaply via an unfair process.
On November 21, 2017, Talos Energy LLC ("Talos") and Stone Energy Corporation (NYSE: SGY; "Stone") announced that their Boards of Directors have approved the combination of Talos and Stone in an all-stock transaction that will create a premier offshore-focused exploration and production company.
However, plaintiff claims that the proposed consideration NYSE:SGY shareholders will receive is grossly inadequate and undervalues Stone Energy Corporation. In addition, the plaintiff alleges that the process is also unfair NYSE:SGY stockholders.
Those who are current investors in Stone Energy Corporation (NYSE:SGY) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com