McMoRan Exploration Investor Alert: Briscoe Law and Powers Taylor Investigate Sale to Freeport-McMoRan Copper & Gold

  McMoRan Exploration Investor Alert: Briscoe Law and Powers Taylor
  Investigate Sale to Freeport-McMoRan Copper & Gold

Business Wire

DALLAS -- December 07, 2012

Former United States Securities and Exchange Commission attorney Willie
Briscoe and the securities litigation firm of Powers Taylor, LLP are
investigating the sale of McMoRan Exploration Co. (“MMR”) (NYSE: MMR) to
Freeport-McMoRan Copper & Gold, Inc. (“FCX”) for shareholders. Under the terms
of the proposed deal valued at approximately $3.4 billion, MMR shareholders
will only receive approximately $14.75 in cash, without interest, and 1.15
units of a royalty trust to be create prior to the closing of the merger. The
proposed sale is well below at least one analyst’s estimated value of $21.00
per share.

If you are an affected investor, and you want to learn more about the lawsuit
or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at
The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The MMR sale investigation centers on whether MMR shareholders are receiving
adequate compensation for their shares in the buyout, whether the transaction
undervalues MMR stock, and whether MMR's board attempted to obtain the highest
share price for all shareholders prior to agreeing to the deal. Notably, at
least one analyst with Yahoo! Finance has estimated that the true inherent
value of MMR stock could be as high as $21.00 per share. According to
shareholder rights attorney Patrick Powers, “due to analysts’ estimates, the
size of the deal and other factors, we believe that this transaction may
undervalue MMR stock. Our lawsuit will seek to obtain the highest share price
for all shareholders.”

The Briscoe Law Firm, PLLC is a full service business litigation and
shareholder rights advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.

Contact:

Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
 
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