Investigation on behalf of current investors in XTO Energy Inc. (Public, NYSE:XTO), who purchased their XTO shares before December 14, 2009, over possible breach of fiduciary duty by the board of directors of XTO Energy Inc. announced.

Investigations by several law firms were announced, after Exxon Mobil Corporation announced to take over XTO Energy Inc in an all-stock transaction valued at $41 billion. The investigations by law firms focus on potential breaches of fiduciary duty and other violations of state law by the Board of Directors of XTO Energy Inc arising out of their attempt to sell XTO Energy Inc to Exxon Mobil Corporation. Under the terms of the agreement ExxonMobil has agreed to issue 0.7098 common shares for each common share of XTO. According to XTO Energy the boards of directors of both companies approved the agreement and the offer represents a 25 percent premium to XTO stockholders.

But according to an investigation by one law firm the transaction appears to be unfair to current investors of XTO Energy Inc. (Public, NYSE:XTO) because the offer to purchase XTO Energy Inc. (XTO) appears opportunistically timed to take advantage of the current economic downturn and is grossly unfair, inadequate, and substantially below the fair or inherent value of XTO.

Shares of XTO Energy (XTO) traded at $48.94 per share after the announcement and at almost $42 per share the day before the news. XTO shares where down from its 52weekHigh of $49.10 per share, $54.25 per share in September 2008, and over $70 per share in June 2008.

The investigations concern whether the XTO Energy Inc Board of Directors breach their fiduciary duties to XTO Energy Inc. (XTO) shareholders by agreeing to sell the XTO at an unfair price thereby harming XTO Energy Inc and its shareholders, whether the directors of XTO Energy Inc and special committee members may have breached their fiduciary duties by not acting in XTO shareholders' best interests, and the Company may not have adequately shopped itself around before entering into this transaction and, pursuant to this proposed transaction, ExxonMobil Corporation may be underpaying for XTO Energy Inc., thus unlawfully harming XTO shareholders.

XTO Energy Inc., located in Fort Worth, Texas, along with its subsidiaries, is engaged in the acquisition, development, exploitation and exploration of both producing oil and gas properties and unproved properties, and in the production, processing, marketing and transportation of oil and natural gas. XTO Energy reported in 2007 Total Revenue of $5.513billion with a Net Income of $1.691billion and in 2008 Total Revenue of $7.695billion with a Net Income of $1.912billion.