Attention Forest Oil Corporation Investors: Law Firm Investigates on Behalf of
SAN DIEGO and DENVER, March 24, 2014
SAN DIEGO and DENVER, March 24, 2014 /PRNewswire/ -- Shareholder rights law
firm Robbins Arroyo LLP is investigating potential violations of federal
securities laws on behalf of investors of Forest Oil Corporation (NYSE: FST).
Forest Oil is an independent oil and gas company engaged in the acquisition,
exploration, development, and production of oil, natural gas, and natural gas
liquids primarily in North America.
Robbins Arroyo LLP
Forest Oil Shares Fall Sharply on Disappointing Results and Lowered Guidance
Shares of Forest Oil fell nearly $1.22, or approximately 38%, to close at
$2.01 on February 26, 2014, following the release of the company's fourth
quarter and year-end 2013 financial statement showing unfavorable results
compared to the previous year. On February 25, 2014, Forest Oil reported
earnings substantially below analysts' expectations and announced a reduction
in its year-end reserve estimate. Specifically, for the three months ended
December 31, 2013, Forest Oil reported total revenues of $88.49 million
compared to $154.9 million for the comparable quarter 2012. Analysts had
anticipated revenue of $96.31 million. Further, the company reported estimated
proved reserves of 625 Bcfe compared to 1,363 Bcfe at December 31, 2012.
In addition, on February 26, 2014, the Forest Oil warned investors that of the
threat that the company could fail to comply with the requirements of a
borrowing agreement, causing an $800 million debt to come due immediately.
Forest Oil Investors Are Encouraged to Contact Shareholder Rights Law Firm
If you invested in Forest Oil and would like to discuss your shareholder
rights, please contact attorney Darnell R. Donahue at (800) 350-6003,
DDonahue@robbinsarroyo.com, or via the information form on the firm's
shareholder rights blog:
Robbins Arroyo LLP is a nationally recognized leader in securities litigation
and shareholder rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action lawsuits, and
has helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested.
Attorney Advertising.Past results do not guarantee a similar outcome.
Darnell R. Donahue
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
SOURCE Robbins Arroyo LLP
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