Rigrodsky & Long, P.A. Announces Investigation of Brigham Exploration Company

WILMINGTON, Del.--(BUSINESS WIRE)--Rigrodsky & Long, P.A. announces that it is investigating potential claims against the board of directors of Brigham Exploration Company (“Brigham Exploration” or the “Company”) (Nasdaq: BEXP) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Statoil ASA (“Statoil”) in a transaction with an approximate value of approximately $4.4 billion.

Click here to learn more and to discuss your shareholder rights: http://investigations.rigrodskylong.com/brighamexplorationcompany-bexp/.

Under the proposed agreement, Statoil will commence a tender offer for all of the outstanding shares of Brigham Exploration common stock by October 31, 2011. Brigham Exploration shareholders will receive $36.50 per share in cash for all outstanding shares of Brigham Exploration common stock tendered in the offer.

The investigation concerns whether Brigham Exploration’s board of directors adequately shopped the Company to obtain the best price possible for Brigham Exploration’s shareholders before entering into the agreement with Statoil. Indeed, according to Yahoo! Finance, at least one analyst has set a $45.00 per share stock price for Brigham Exploration stock.

If you own the common stock of Brigham Exploration and purchased your shares before October 17, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware 19801, by telephone at (888) 969-4242, or by e-mail to info@rigrodskylong.com.

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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