Venoco, Inc. : Faruqi & Faruqi, LLP Announces Investigation of Venoco, Inc.
01/18/2012| 07:05pm US/Eastern
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Faruqi & Faruqi, LLP, a leading national securities firm headquartered
in New York City, is investigating the Board of Directors of Venoco,
Inc. ("Venoco" or the "Company") (NYSE: VQ) for potential breaches of
fiduciary duties in connection with their conduct related to the sale of
the Company to its chief executive officer, Timothy Marquez, who already
holds 50.3 percent of the Company's stock, in an all-cash deal valued at
about $770 million. Under the terms of the proposed transaction, Venoco
stockholders will receive $12.50 in cash per each share of Venoco they
own, while, according to Yahoo! Finance, at least one financial analyst
has set a price target of $20 for Venoco.
Request more information now by clicking here: www.faruqilaw.com/VQ
Whether Venoco's Board of Directors breached their fiduciary duties to
the Company's stockholders by failing to conduct an adequate and fair
sales process prior to agreeing to this proposed transaction, whether
the proposed transaction undervalues Venoco's shares and by how much
this proposed transaction undervalues the Company to the detriment of
Venoco's shareholders are the key focus of this investigation.
Faruqi & Faruqi, LLP is a national law firm which represents investors
and individuals in class action litigation. The firm is focused on
providing exemplary legal services in complex litigation in the areas of
securities, shareholder, antitrust and consumer litigation, through all
phases of litigation. The firm has an experienced trial team which has
achieved significant victories on behalf of the firm's clients.
If you own common stock in Venoco and wish to obtain additional
information, please visit us at www.faruqilaw.com/VQ
or contact Juan E. Monteverde, Esq. either via e-mail at jmonteverde@faruqilaw.com
or by telephone at (877) 247-4292 or (212) 983-9330.
Attorney Advertising. (C) 2012 Faruqi & Faruqi, LLP. The law firm
responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We are happy to discuss your particular case.
Faruqi & Faruqi, LLP
369 Lexington Avenue, 10th Floor
New
York, NY 10017
Attn: Juan E. Monteverde, Esq.
jmonteverde@faruqilaw.com
Toll
Free: 877-247-4292
Phone: 212-983-9330
© Business Wire 2012
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