BALA CYNWYD, PA / ACCESSWIRE / November 22, 2017 / The law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Bonanza Creek Energy Inc. ("Bonanza Creek Energy" or the "Company") (NYSE: BCEI - News) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to SandRidge Energy, Inc. ("SandRidge Energy").
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Under the terms of the transaction, Bonanza Creek Energy shareholders will receive a combination of cash and SandRidge Energy stock worth approximately $36 per share for each share of Bonanza Creek Energy stock they own. The investigation concerns whether the Board of Bonanza Creek Energy breached their fiduciary duties to shareholders and whether SandRidge Energy is underpaying for the Company. The transaction may undervalue the Company and result in a loss for many shareholders. For example, shares of BCEI traded as high as $40.60 per share as recently as May 2017, and as recently as November 8, 2017, the Company reported quarterly financial results that beat analysts' consensus estimates and expectations.
If you own shares of Bonanza Creek Energy 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, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire or Evan J. Smith, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, by visiting http://www.brodskysmith.com/cases/bonanza-creek-energy-inc-nyse-bcei/, or calling toll free 877-LEGAL-90.
Brodsky & Smith, LLC 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