STEVENSON, Md.--(BUSINESS WIRE)--The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Forest Oil Corporation (“Forest” or the “Company”) (NYSE: FST) and other violations of state law by the board of directors of Forest relating to the proposed buyout of the Company by Sabine Oil & Gas LLC (“Sabine”).
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 common stock. The firm’s investigation seeks to determine, among other things, whether the Company’s board of directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into this transaction, and whether Sabine is underpaying for Forest shares.
If you currently own common stock of Forest and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, click here: http://www.browerpiven.com/currentinvestigations.html.
You may also request more information by contacting Brower Piven either by email at hoffman@browerpiven.com or by telephone at (410) 415-6616. Attorneys at Brower Piven together have more than a century of experience litigating securities and other class action cases.