BALA CYNWYD, PA / ACCESSWIRE / June 8, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors ofContango Oil & Gas Company (“Contango” or the “Company”) (NYSE:MCF) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Independence Energy, LLC (“Independence”). Under the terms of the merger agreement, Independence shareholders will own approximately 76% and Contango shareholders will own only 24% of the combined company. Independence will become a publicly traded company once the deal is consummated.
The investigation concerns whether the Contango Board breached its fiduciary duties to shareholders, including the dilution of Contango shareholders’ interest in the combined company.
If you own shares of Contango stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/contango-oil-gas-company-nyse-mcf/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC
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