WeissLaw LLP Investigates the Acquisition of Blue Ridge Mountain Resources, Inc.
NEW YORK, Aug. 28, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Blue Ridge Mountain Resources, Inc. ("BRMR" or the "Company") (OTC: BRMR) in connection with the proposed acquisition of the Company by Eclipse Resources Corporation ("ECR") (NYSE: ECR). Under the terms of the acquisition agreement, BRMR shareholders will be entitled to receive 4.4259 shares of ECR for each BRMR share they own.
WeissLaw is investigating whether BRMR's Board acted to maximize shareholder value prior to entering into the agreement. Notably, according to ECR, the deal is a transformative transaction which is expected to optimize ECR's netbacks, and improve its balance sheet and liquidity, while also increasing growth at low leverage levels.
Moreover, through the acquisition of the Company, ECR will gain access to BRMR's 356 net locations in the high-quality Utica and Marcellus areas, representing a 94% increase in ECR's net locations.
Given these facts, WeissLaw is investigating whether BRMR's Board acted in the best interests of BRMR's public shareholders to maximize shareholder value prior to entering into the agreement. If you own BRMR shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com.
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 clients and obtained important corporate governance relief in many of 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 materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/blue-ridge-mountain-resources-inc/
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