Rigrodsky & Long, P.A. Announces Investigation Of McMoRan Exploration Co. Buyout

  Rigrodsky & Long, P.A. Announces Investigation Of McMoRan Exploration Co.

Business Wire

WILMINGTON, Del. -- December 05, 2012

Rigrodsky & Long, P.A. announces that it is investigating potential legal
claims against the board of directors of McMoRan Exploration Co. (“MMR” or the
“Company”) (NYSE: MMR) regarding possible breaches of fiduciary duties and
other violations of law related to the Company’s entry into an agreement to be
acquired by Freeport-McMoRan Copper & Gold Inc. (“FCX”) (NYSE: FCX) in a
transaction valued at approximately $3.4 billion.

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Under the terms of the proposal, public shareholders of MMR will receive
$14.75 in cash and 1.15 units of a royalty trust, which will hold a 5 percent
overriding royalty interest in future production from MMR’s existing
ultra-deep exploration properties, for each share of MMR they own.

The investigation concerns whether MMR’s board of directors failed to
adequately shop the Company and obtain the best possible value for MMR’s
shareholders before entering into an agreement with FCX. According to Yahoo!
Finance, at least one analyst has set a price target for MMR stock at $21.00
per share.

If you own the common stock of MMR and purchased your shares before December
5, 2012, if you have information or would like to learn more about these
claims, or if you wish to discuss these matters or have any questions
concerning this announcement or your rights or interests with respect to these
matters, please contact Peter Allocco at Rigrodsky & Long, P.A., 825 East Gate
Boulevard, Suite 300, Garden City, New York 11530 toll free at (888) 969-4242,
by e-mail to info@rigrodskylong.com, or at:

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City,
New York, regularly prosecutes securities class, derivative and direct
actions, shareholder rights litigation and corporate governance litigation, on
behalf of shareholders in states and federal courts throughout the United

Attorney advertising. Prior results do not guarantee a similar outcome.


Rigrodsky & Long, P.A.
Peter Allocco
Fax: 302-654-7530
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