The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Freeport-McMoRan Copper & Gold Inc.

Thursday, December 06, 2012

SHAREHOLDER ALERT: Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Freeport-McMoRan Copper & Gold Inc.16:27 EST Thursday, December 06, 2012 NEW YORK (Business Wire) -- Levi & Korsinsky is investigating the Board of Directors of Freeport-McMoRan Copper & Gold Inc. (“FCX” or the “Company”) (NYSE: FCX) for possible breaches of fiduciary duty and other violations of state law in connection with the Company's recent purchases of Plains Exploration & Production Company (NYSE: PXP) and McMoran Exploration Co. (NYSE: MMR). Click here to learn more about the investigation: http://zlk.9nl.com/freeport-mcmoran-copper-gold-fcx, or call: 877-363-5972. There is no cost or obligation to you. On December 5, 2012, FCX announced it would purchase PXP, offering PXP shareholder 0.6531 shares of FCX common stock and $25.00 cash for each share of PXP stock they own. On the same day, FCX also announced it would purchase MMR for $14.75 in cash and 1.15 units of a royalty trust for each share of MMR stock owned; this trust will hold a 5% royalty interest in future production from MMR exploration properties in ultra-deepwater territories. The investigation concerns whether the FCX Board is acting in the best of interest of its shareholders. If you own common stock in FCX 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://zlk.9nl.com/freeport-mcmoran-copper-gold-fcx. Levi & Korsinsky is a national firm with offices in New York and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes. Levi & Korsinsky, LLPJoseph Levi, Esq., 212-363-7500Toll Free: 877-363-5972Fax: 866-367-6510www.zlk.com