Newman Ferrara LLP Announces Investigation of Athlon Energy Inc.
Newman Ferrara LLP has begun an investigation into potential claims against the board of directors of Athlon Energy Inc. ("Athlon") (NYSE: ATHL) concerning its proposed sale to Encana Corporation.
Under the terms of the proposed transaction, Athlon stockholders will receive only $58.50 per share in cash for each share of Athlon stock owned. However, the proposed offer price falls below the range of price targets for Athlon stock set by numerous analysts of between $60.00 and $66.00 per share.
Newman Ferrara's investigation concerns whether the Athlon's Board of Directors has breached its fiduciary duties to act in the best interests of Athlon's stockholders. The investigation focuses on the potential unfairness of the consideration being provided to Athlon's stockholders and the process by which the Athlon's Board of Directors considered and approved the proposed deal.
Concerned investors may contact Newman Ferrara attorney Roy Shimon at rshimon@nfllp.com to discuss this investigation, their rights, or potential remedies.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation, securities fraud and shareholder litigation, consumer protection, civil rights, and real estate. For more information, please visit the firm website at www.nfllp.com.