Faruqi & Faruqi, LLP Announces Investigation of Brigham Exploration Co.

NEW YORK--(BUSINESS WIRE)--Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of Brigham Exploration Co. (“Brigham” or the “Company”) (NASDAQ: BEXP), an independent exploration, development and production company, for potential breaches of fiduciary duties in connection with their conduct related to the sale of the Company to Statoil ASA (NYSE: STO) in an all-cash deal valued at about $4.4 billion. Under the terms of the proposed transaction, Brigham stockholders will receive $36.50 in cash for each share of Brigham common stock they own, while according to Yahoo! Finance, at least one financial analyst has set a price target of $45 for Brigham. The proposed transaction is structured as a tender offer and may be effectuated without a shareholder vote.