NEW YORK, Jan. 19, 2012 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Venoco, Inc. ("Venoco" or the "Company") (NYSE: VQ) for possible breaches of fiduciary duty and other violations of state law in connection with the acquisition of the Company by its Chairman and CEO, Timothy Marquez. Under the terms of the transaction, Venoco shareholders will receive $12.50 per share of Venoco stock they own. Marquez currently owns 50.3% of Venoco's shares.

Click here to learn more about the investigation: http://www.zlk.com/venoco-vq, or call: 877-363-5972.

The investigation concerns whether the Board is acting in Venoco shareholders' best interests in connection with the sale, and whether the consideration to be paid to Venoco shareholders is unfair, inadequate, and substantially below the fair and inherent value of Venoco stock. In particular, Venoco shares have traded as high as $14.75 per share as recently as July 22, 2011. Furthermore, at least one analyst set a price target for Venoco stock at $20.00 per share.

If you own common stock in Venoco and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

SOURCE Levi & Korsinsky, LLP