MILWAUKEE, May 10, 2021 /PRNewswire/ -- Ademi LLP is investigating Extraction (NASDAQ: XOG) for possible breaches of fiduciary duty and other violations of law in its transaction with Bonanza Creek.
Click here to learn how to join the action: https://www.ademilaw.com/case/extraction-oil-gas-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.
Ademi LLP alleges Extraction's financial outlook is excellent and yet Extraction shareholders will receive only 1.1711 shares of Bonanza Creek common shares for each share of Extraction common stock owned on the closing date. The merger agreement unreasonably limits competing bids for Extraction by prohibiting solicitation of further bids, and imposing a termination penalty if Extraction accepts a superior bid. Extraction insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Extraction's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Extraction.
If you own Extraction common stock and wish to obtain additional information, please contact Guri Ademi either at [email protected] or toll-free: 866-264-3995, or https://www.ademilaw.com/case/extraction-oil-gas-inc.
We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.
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SOURCE Ademi LLP