NEW YORK, July 16, 2019 /PRNewswire/ -- WeissLaw LLP
is investigating possible breaches of fiduciary duty and other
violations of law by the Board of Directors of Carrizo Oil &
Gas, Inc. ("CRZO" or the "Company") (NASDAQ: CRZO) in connection
with the proposed acquisition of the Company by Callon Petroleum
Co. ("CPE") (NYSE: CPE). Under the terms of the agreement, CRZO
shareholders will receive 2.05 shares of CPE for each CRZO share
they own, representing consideration of $13.12 per CRZO share.
If you are a shareholder of CRZO who wishes to
discuss the investigation or have any questions about this notice
and your rights or interests, please contact:
Joshua Rubin,
Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888)593-4771
stockinfo@weisslawllp.com
Or visit our website
http://www.weisslawllp.com/carrizo-oil-gas-inc/
Or follow us on Twitter
@MarketsAlert
WeissLaw is investigating whether CRZO's Board acted to maximize
shareholder value prior to entering into the agreement.
Notably, prior to the acquisition announcement, analyst
Michael S. Scialla of Stifel
Financial Corp. set a target price of $41.00 per CRZO share. Additionally, the
per-share offer price is approximately $16.50 less than CRZO's 52-week high of
$29.58.
Moreover, the acquisition is a strategic transaction which will
increase CPE's corporate footprint and its scale in the
Delaware and Permian Basins,
expand its portfolio to include CRZO's high quality assets, and
accelerate the growth of free cash flow.
Finally, upon completion of the transaction, CRZO shareholders
will own only 46% of the combined company on a fully diluted
basis.
WeissLaw is also investigating whether CRZO's Board conducted a
fair process in agreeing to the proposed merger, whether the
proposed merger undervalues the Company, and whether all material
information related to the proposed merger is fully and fairly
disclosed.
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 stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP