XTO Energy, Inc. (NYSE:XTO) will be investigated by Robbins Umeda LLP regarding violations of state law by members of XTO’s Board of Directors. The investigation was spurred following the company’s decision to merge with Exxon Mobile Corporation announced on Monday, December 14. Robbins Umeda is concerned whether the XTO and Exxon Mobile agreement is fair and in the best interest of the shareholders connected with the sale process.
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XTO is engaged in the acquisition, exploitation and exploration of oil and gas production properties. The company also produces, processes, markets, and transports oil and natural gas. It’s average daily production was 1.91 Billion cubic feet of gas, 15.6 MBbls of natural gas liquids, and 56MBbls of oil during the year ended December 31, 2008.
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