An investigation on behalf of investors of Blue Ridge Mountain Resources, Inc. (OTC: BRMR) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 09/04/2018 -- An investigation was announced concerning whether the takeover of Blue Ridge Mountain Resources, Inc. is unfair to OTC: BRMR stockholders.
Investors who purchased shares of Blue Ridge Mountain Resources, Inc. (OTC: BRMR) and currently hold any of those OTC: BRMR shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Blue Ridge Mountain Resources, Inc. breached their fiduciary duties owed to OTC: BRMR investors in connection with the proposed acquisition.
On Irving, TX based Blue Ridge Mountain Resources, Inc., an independent oil and gas company, explores for, exploits, acquires, develops, and produces natural gas and natural gas liquid (NGL) resources in the United States. On August 27, 2018, Eclipse Resources Corporation (NYSE:ECR) and Blue Ridge Mountain Resources, Inc. (OTCPK: BRMR) announced that they have entered into a merger agreement under which Eclipse Resources and Blue Ridge will combine in an all-stock transaction. In the Transaction, Blue Ridge stockholders will receive consideration consisting of 4.4259 shares of Eclipse Resources common stock for each share of Blue Ridge common stock, before adjustment for a 15-to-1 reverse stock split of Eclipse Resources common stock to be effected concurrently with closing of the Transaction.
However, the investigation concerns whether the offer is unfair to Blue OTC: BRMR stockholders. More specifically, the investigation concerns whether the Blue Ridge Mountain Resources Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Shares of Blue Ridge Mountain Resources, Inc. (OTC: BRMR) closed on August 30, 2018 at $6.03 per share.
Those who are current investors in Blue Ridge Mountain Resources, Inc. (OTC: BRMR) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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