GeoResources Shareholders Sue To Nix $1B Sale to Halcon

Law360, New York (May 22, 2012, 3:56 PM EDT) -- Shareholders in GeoResources Inc. on Monday hit the oil and gas producing company with a class action claiming it is selling itself too cheaply to energy giant Halcon Resources Corp. in a planned $1 billion cash-and-stock deal.

The suit, filed in Colorado federal court, comes a month after Halcon announced plans to absorb GeoResources to further its long-term plan to emerge as a leader in liquid-rich plays.

Under the deal, GeoResources, based in Houston with offices in Denver and North Dakota, will become a wholly owned...
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