FOREST OIL ALERT: Investigation by Johnson & Weaver of Forest Oil
Corporation’s Proposed Sale
SAN DIEGO -- May 6, 2014
Shareholder rights law firm Johnson & Weaver, LLP has launched an
investigation into whether the board members of Forest Oil Corporation (NYSE:
FST) breached their fiduciary duties in connection with the proposed sale of
the Company to Sabine Oil & Gas LLC.
Forest Oil Corporation is engaged in the acquisition, exploration,
development, and production of oil, natural gas, and natural gas liquids
primarily in North America.
On May 6, 2014, Forest and Sabine entered into an agreement whereby Sabine
will acquire Forest. Under the terms of the agreement, each share of Forest
common stock will be converted into 0.1 of a share of Sabine Oil & Gas common
stock. The combined entity is to be named Sabine Oil & Gas Corporation and is
expected to list on the New York Stock Exchange.
Nationally recognized Johnson & Weaver, which focuses its practice on
shareholder rights, is investigating whether the proposed deal price
represents adequate consideration, especially given the unknowns surrounding
the value of the transaction.
“Forest is a publicly traded company with a tangible value,” said Johnson &
Weaver attorney Scott Holleman. “Forest’s directors are required to do
everything they can to maximize shareholder value. How can a shareholder value
this deal when the stock they are receiving doesn't yet trade on a stock
If you are a shareholder of Forest Oil and believe 1) the proposed deal is too
vague or 2) the deal favors the officers and directors and not the
shareholders or 3) you’re interested in learning more about the investigation
or your legal rights and remedies, please contact Johnson & Weaver’s lead
analyst Jim Baker at firstname.lastname@example.org or 619-814-4471.
Johnson & Weaver is also investigating whether the Company’s directors
thoroughly considered alternatives to the proposed acquisition, such as
continuing on as an independent company or pursuing a deal with another
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm
with offices in California and New York. The firm represents individual and
institutional investors in shareholder derivative and securities class action
lawsuits. For more information about the firm and its attorneys, please visit
http://www.johnsonandweaver.com. Attorney advertising. Past results do not
guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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