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SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Sale of Penn Virginia Corporation to Denbury Resources Inc. is Fair to Shareholders
Globe Newswire 29-Oct-2018 10:53 AM
NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who purchased Penn Virginia Corporation ("Penn Virginia" or the "Company") (NASDAQ:PVAC) stock prior to October 28, 2018.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Penn Virginia to Denbury Resources Inc. (NYSE:DNR). Under the terms of the transaction, Penn Virginia shareholders will receive 12.4 shares of Denbury common stock and $25.86 in cash for each share of Penn Virginia common stock they own; Penn Virginia shareholders may elect to receive all cash, all stock, or a combination of cash and stock, subject to proration. Based on the closing price of Denbury shares on October 26, 2018, this represents a value of $79.80 per share. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The Penn Virginia merger investigation concerns whether the Board of Penn Virginia breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Denbury Resources is underpaying for Penn Virginia shares, thus unlawfully harming Penn Virginia shareholders.
Levi & Korsinsky is a national firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. 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 E. Levi, Esq. 55 Broadway, 10th Floor New York, NY 10006 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.com
