The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of McMoRan

  The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible
  Breaches of Fiduciary Duty by the Board of McMoRan Exploration Co. in
  Connection with the Sale of the Company

Business Wire

NEW YORK -- December 05, 2012

Levi & Korsinsky is investigating the Board of Directors of McMoran
Exploration Co. (“MMR” or the “Company”) (NYSE: MMR) for possible breaches of
fiduciary duty and other violations of state law in connection with the sale
of the Company to Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX).

Click here to learn how to join the action:
http://zlk.9nl.com/mcmoran-exploration-mmr/, or call: 877-363-5972. There is
no cost or obligation to you.

Under the terms of the transaction, MMR shareholders will receive $14.75 in
cash and 1.15 units of a royalty trust for each share they hold; the trust
will hold a 5% royalty interest in future production from MMR exploration
properties in ultra-deepwater territories. The transaction values MMR at $3.4
billion in cash. The investigation concerns whether the MMR Board of Directors
breached their fiduciary duties to stockholders by failing to adequately shop
the Company before entering into this agreement with FCX. At least one analyst
set a price target for MMR stock at $21.00 per share.

If you own common stock in MMR and wish to obtain additional information,
please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by
telephone at (212) 363-7500, toll-free: (877) 363-5972, or
http://zlk.9nl.com/mcmoran-exploration-mmr/.

Levi & Korsinsky is a national firm with offices in New York and Washington
D.C. The firm has extensive expertise in prosecuting securities litigation
involving financial fraud, representing investors throughout the nation in
securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have
been appointed by numerous courts throughout the country to serve as lead
counsel on behalf of shareholders in major securities lawsuits and have
successfully recovered multimillion-dollar damages awards on behalf of
investors. For more information, please feel free to contact any of the
attorneys listed below. Attorney advertising. Prior results do not guarantee
similar outcomes.

Contact:

Levi & Korsinsky, LLP
Joseph Levi, Esq. / Eduard Korsinsky, Esq.
Tel: 212-363-7500
Toll Free: 877-363-5972
Fax: 866-367-6510
www.zlk.com
 
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