NEW YORK, Dec. 9, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of CONSOL Energy Inc. ("CEIX" or the "Company") (NYSE: CEIX) in connection with the proposed interested-party transaction, pursuant to which CEIX will acquire all of the minority units of CONSOL Coal Resources LP ("CCR") that it does not already own. Under the terms of the acquisition agreement, CCR unitholders will receive 0.73 shares of CEIX common stock for each CCR unit that they own. CEIX will issue approximately 8.0 million shares as part of the merger consideration contemplated by the proposed transaction (the "Share Issuance"), representing approximately 22.2% of the total CEIX shares that will be outstanding on a pro forma basis.
If you own CEIX shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether: (i) CEIX's board acted in the best interest of CEIX's public shareholders in agreeing to acquire CCR, (ii) the board was fully informed as to the potentially dilutive effect of the Share Issuance, and (iii) all information regarding the process undertaken by the board and the financial analyses supporting the transaction is fully and fairly disclosed to CEIX's public shareholders. These issues are of particular concern given the divergent interests CEIX has by virtue of its ownership of a majority of CCR's outstanding units.
WeissLaw LLP 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 clients and obtained important corporate governance relief in many of 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 materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
SOURCE WeissLaw LLP