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Press release from PR Newswire

The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Brigham Exploration Company in Connection with the Sale of the Company to Statoil ASA

Monday, October 17, 2011

The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Brigham Exploration Company in Connection with the Sale of the Company to Statoil ASA15:05 EDT Monday, October 17, 2011NEW YORK, Oct. 17, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Brigham Exploration Company ("Brigham" or the "Company") (NASDAQ: BEXP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Statoil ASA (NYSE: STO). Under the terms of the transaction, Brigham shareholders will receive $36.50 per share of Brigham stock they own. The transaction values the deal at approximately $4.4 billion.Click here to learn more about the investigation: http://zlk.9nl.com/brigham-exploration/, or call: 877-363-5972.The investigation concerns whether the Brigham Board of Directors breached their fiduciary duties to Brigham stockholders by failing to adequately shop the Company before entering into this transaction and whether Statoil ASA is underpaying for Brigham shares, thus unlawfully harming Brigham stockholders.  In particular, shares of Brigham traded as high as $37.39 per share as recently as March 30, 2011.  Furthermore, at least one analyst set a price target of $45.00 per share.If you own common stock in Brigham and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com.  Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.  The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major litigations involving mergers and acquisitions.  For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.CONTACT:Levi & Korsinsky, LLPJoseph Levi, Esq.Eduard Korsinsky, Esq.30 Broad Street - 15th Floor New York, NY 10004Tel: (212) 363-7500Toll Free:  (877) 363-5972Fax: (212) 363-7171www.zlk.com SOURCE Levi & Korsinsky, LLP