A lawsuit was filed by an investors in NASDAQ:GEOI in effort to block the proposed takeover of GeoResources, Inc. by Halcón Resources and other NASDAQ:GEOI stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWire) -- 05/07/2012 --An investor in NASDAQ:GEOI shares filed a lawsuit against directors of GeoResources, Inc. in effort to stop the proposed takeover of GeoResources, Inc. by Halcón Resources at a value of approximately $37.97 per NASDAQ:GEOI share.

Investors who purchased shares of GeoResources, Inc. (NASDAQ:GEOI) prior to April 25, 2012 and currently hold any of those NASDAQ:GEOI shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:GEOI stockholders arising out of the attempt to sell the company at an unfair price via an unfair process.

On April 25, 2012, Halcón Resources Corporation (NYSE: HK) and GeoResources, Inc. (NASDAQ: GEOI) announced that they have entered into a merger agreement in which GeoResources will merge into a wholly-owned subsidiary of Halcón Resources in a cash and stock transaction that values GeoResources at approximately $1.0 billion, based on the closing price of Halcón Resources common stock on April 24, 2012. Under the terms of the proposed transaction, GeoResources stockholders will receive $20.00 in cash and 1.932 shares of Halcón Resources common stock for each share of GeoResources common stock they hold, representing consideration to GeoResources stockholders of $37.97 per share based on the closing price of Halcón Resources common stock on April 24, 2012.

However, the plaintiff alleges that a value of approximately $37.97 per NASDAQ:GEOI share is unfair to NASDAQ:GEOI sotckholders and unvdervalues GeoResources, Inc. . Indeed, at least one analyst has set the high target price at $43.00 per share. Furthermore, GeoResources’ financial performance increased in recent years. It reported that its annual Revenue rose from $81million in 2009 to $137.75million in 2011 and its Net Income increased from $9.78million to $31.34million respectively.

Those who are current investors in GeoResources, Inc. (NASDAQ:GEOI) and purchased their NASDAQ:GEOI shares prior to the announcement, have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com