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Levi & Korsinsky announces a class action complaint has been filed on behalf of Bill Barrett Corporation (NYSE: BBG) shareholders concerning the sale of the Company to Fifth Creek Energy Operating Company, LLC. Under the terms of the transaction, Fifth Creek and Bill Barrett will become subsidiaries of Red Rider Holdco, Inc., a new publicly-listed company, with Bill Barrett shareholders receiving one share of Red Rider for each share of Bill Barrett stock they own.
The investigation concerns whether the Board of Bill Barrett breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Fifth Creek is underpaying for Bill Barrett shares, thus unlawfully harming Bill Barrett shareholders.
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