The Law Firm of Weiss & Lurie Investigates Brigham Exploration Company

NEW YORK--(BUSINESS WIRE)--

Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Brigham Exploration Company BEXP arising from its proposed acquisition by Statoil ASA STO for $36.50 per share in cash.

Under the agreement, Statoil will commence a tender offer for all outstanding Brigham shares by October 31, 2011. The transaction is expected to close in late 2011 or early 2012, subject to customary conditions, including the tender of a majority of the outstanding Brigham shares.

Weiss & Lurie is investigating whether Brigham's Board acted in the best interests of its shareholders in approving the transaction. The Company has a sizable acreage position and, while it is currently producing about 21,000 barrels of oil equivalent per day, it has the potential to increase to 60,000 to 100,000 barrels a day over a five-year period. Numerous analysts set the price target of Brigham above the price offered by Statoil, with at least two, including Jefferies & Company, Inc., Brigham's financial advisor on the deal, setting a high target of $45.00 per share. In fact, Brigham stock traded above the offer price as recently as April 2011.

If you own Brigham shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at info@weisslurie.com or by telephone at (888) 593-4771.

Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at info@weisslurie.com or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/.Attorney Advertising. Past results do not guarantee a similar outcome.