The law firm of Berman DeValerio is investigating Forest Oil Corporation’s (“Forest” or the “Company”) (NYSE:FST) board of directors related to the proposed sale of Forest to Sabine Oil & Gas LLC (“Sabine”). Sabine is a limited liability company with no public market for its shares. Under the terms of the transaction, in exchange for each share of Forest, shareholders will receive .1 shares of a new company which is expected to trade on the New York Stock Exchange.

If this transaction is consummated, First Reserve Corp., a private equity firm which owns 99% of Sabine, will own as much as 73.5% of the newly formed company. In addition, there is no public market for Sabine shares, which makes it more difficult for Forest shareholders to assess the value of the consideration they will receive for their shares. The Company has revealed, however, that two Forest board members have negotiated positions for themselves on Sabine’s board.

Berman DeValerio (www.bermandevalerio.com) is investigating whether Forest’s directors adequately carried out their fiduciary duties to thoroughly consider alternatives to the proposed acquisition and whether they conducted an adequate and fair sales process in order to obtain maximum value for the Company’s shareholders before approving the transaction.

If you currently hold shares of Forest and would like more information regarding this matter, or if you wish to share information about the matter, you may contact Nathaniel Orenstein, Esq., at norenstein@bermandevalerio.com or (617) 542-8300.

Berman DeValerio is a national law firm representing plaintiffs in lawsuits against corporate wrongdoers, chiefly for violations of securities and antitrust laws. The firm has 35 lawyers in Boston, San Francisco and Palm Beach Gardens, Florida.

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