The Briscoe Law Firm and Powers Taylor, LLP Announce Investigation of Brigham Exploration Company

DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP are investigating the sale of Brigham Exploration Company (“Brigham Exploration” or “BEXP”) (NASDAQ: BEXP) to Statoil ASA for shareholders. Under the proposed buyout, Brigham Exploration shareholders will receive only $36.50 in cash for each share of Brigham Exploration/BEXP stock owned, which is well below the target price of $45.00 per share recently announced by analysts and below the closing price of BEXP shares as recently as March 2011.

If you are an affected investor, and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The definitive acquisition agreement involves an all cash transaction valued at approximately $4.4 billion. Under the terms of the acquisition, a tender offer will commence on or before October 31, 2011. The transaction is expected to be completed in late 2011 or early 2012.

“We are investigating the fairness of the proposed transaction to Brigham Exploration shareholders, whether the shareholders are being underpaid for their stock, and whether Brigham Exploration’s Board of Directors acted in the shareholders’ best interest,” said shareholder rights attorney Willie Briscoe. In particular, Brigham Exploration’s stock closed at $37.39 per share as recently as March 30, 2011, and at least one analyst has set a target price of $45.00 per share for BEXP stock. “Based on these and other factors, we believe that the transaction may significantly undervalue Brigham Exploration stock. Our lawsuit will seek to obtain the highest share price for all shareholders,” said shareholder rights attorney Willie Briscoe.

The Briscoe Law Firm, PLLC is a full service business litigation and shareholder rights advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.