NEW YORK, July 15, 2011 (GLOBE NEWSWIRE) -- Pomerantz Haudek Grossman & Gross LLP is investigating potential claims on behalf of investors of Petrohawk Energy Corp. ("Petrohawk" or the "Company") relating to the Company's acquisition by BHP Billiton Ltd. for $12.1 billion in cash.
The investigation concerns whether the Company's board of directors is breaching its fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Petrohawk shareholders would receive $38.75 per share in cash for each share of HK common stock. At least one analyst has set a higher target price. The purchase price also actually represents lower revenue and net income multiples than those offered in comparable energy and mining company acquisitions.
Shareholders of Petrohawk seeking more information about this acquisition are advised to contact Gustavo Bruckner, Esq. at email@example.com or 212-661-1100 or toll free at 888-476-6529, ext. 302. Shareholders may also contact Rachelle R. Boyle at 212-661-1100, ext. 237.
The Pomerantz Firm, with offices in New York, Chicago, and Washington, D.C., is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See http://www.pomerantzlaw.com/">www.pomerantzlaw.com.
Rachelle R. Boyle Pomerantz Haudek Grossman & Gross LLP 888-476-6529 (ext. 237) 212-661-1100 (ext. 237) firstname.lastname@example.org