Magellan Petroleum (MPET) sale to Stratex Oil & Gas Holdings Under Investigation

SHAREHOLDER ALERT: Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Magellan Petroleum in Connection with the Proposed Sale of the Company to Stratex Oil & Gas Holdings

Levi & Korsinsky is investigating the Board of Directors of Magellan Petroleum (“Magellan” or the “Company”) (NasdaqCM: MPET) for possible breaches of fiduciary duty and other violations of state law in connection with the proposed sale of the Company to Stratex Oil & Gas Holdings (PINK: STTX).

Click here to learn more about the investigation: http://zlk.9nl.com/magellan-petroleum-mpet/, or call: 877-363-5972. There is no cost or obligation to you.

Under the terms of the proposed transaction, Magellan shareholders would receive $2.30 for each share of Magellan stock they own. The proposed transaction has a total approximate value of $124 million. The investigation concerns whether the Board of Directors is engaging in adequate process to review the proposed transaction, and whether the consideration to be paid would be fair and adequate.

If you own common stock in Magellan 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/magellan-petroleum-mpet/.

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. 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 securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.