WeissLaw LLP Investigates McMoRan Exploration Co. Acquisition
NEW YORK -- December 06, 2012
WeissLaw LLP, a national class action and shareholder rights law firm with
offices in New York City and Los Angeles, is investigating possible breaches
of fiduciary duty and other violations of law by the Board of Directors of
McMoRan Exploration Co. (“McMoRan” or the “Company”) (NYSE: MMR) arising from
its agreement for McMoRan to be acquired by Freeport-McMoRan Copper & Gold
Inc. (“Freeport”) (NYSE: FCX), in a transaction valued at approximately $3.4
billion. Under the terms of the proposed acquisition McMoRan shareholders will
receive $14.75 in cash and 1.15 units of a royalty trust holding a 5%
overriding royalty interest in future production from McMoRan’s existing
ultra-deep exploration properties, for each McMoRan share they own.
WeissLaw LLP is investigating whether McMoRan’s Board acted in the best
interests of its public shareholders by actively shopping the Company to
maximize shareholder value for McMoRan’s public shareholders, prior to
entering into the proposed acquisition with Freeport. Additionally, at least
one analyst set a price target for McMoRan stock at $21.00 per share. If you
own McMoRan shares and would like more information about your rights as a
shareholder or additional information concerning our investigation, please
contact Michael A. Rogovin either by email at email@example.com or by
telephone at (888) 593-4771.
WeissLaw LLP has litigated hundreds of stockholder class and derivative
actions for violations of corporate and fiduciary duties. We have recovered
over a billion dollars for defrauded institutions and individuals and obtained
important corporate governance in these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing (including
insider trading, waste of corporate assets, accounting fraud, or issuing
materially misleading information), consumer fraud (including false
advertising, defective products, or other deceptive business practices), or
anti-trust violations, please email us at firstname.lastname@example.org or fill out the
form on our website, http://www.weisslawllp.com/contact/report_fraud/.
Attorney Advertising. Past results do not guarantee a similar outcome.
Michael A. Rogovin, Esq.
1500 Broadway, 16^th Floor
New York, NY 10036
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