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WeissLaw LLP: Energy XXI Gulf Coast Inc. Acquisition May Not Be In The Best Interest of EGC Shareholders

NEW YORK, June 19, 2018 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Energy XXI Gulf Coast Inc. (“EGC” or the “Company”) (NASDAQ: EGC) in connection with the proposed acquisition of the Company by an affiliate of Cox Oil (“Cox”).  Under the terms of the agreement, EGC shareholders will receive $9.10 in cash for each EGC share they own. 

WeissLaw is investigating whether EGC’s Board acted to maximize shareholder value prior to entering into the agreement.  Notably, the acquisition is a strategic transaction, which, according to Cox’ Chairman and CEO “expands [Cox’s] presence in the Gulf of Mexico . . . [and will] generate economies of scale through the consolidation of assets.”

Given these facts, WeissLaw is investigating whether EGC’s Board acted in the best interests of EGC’s public shareholders to maximize shareholder value prior to entering into the agreement.  If you own EGC shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at stockinfo@weisslawllp.com

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com or fill out the form on our website, http://www.weisslawllp.com/energy-xxi-gulf-coast-inc/ 

 

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SOURCE WeissLaw LLP