NEW YORK, Oct. 18, 2019 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Jagged Peak Energy, Inc.
("JAG" or the "Company") (NYSE: JAG) in connection with the
proposed acquisition of the Company by Parsley Energy, Inc. ("PE")
(NYSE: PE). Under the terms of the acquisition agreement, JAG
shareholders will receive 0.447 shares of PE Class A common stock
for each JAG share they own, representing consideration of
$7.59 per JAG share based on PE's
October 11 closing price.
If you own JAG shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, visit our website:
http://www.weisslawllp.com/jagged-peak-energy-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether JAG's Board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, the per-share consideration is
$6.41 less than the analyst target
price of $14.00, and $6.36 less than the Company's 52-week high of
$13.95. Moreover, JAG shares traded
for $9.10, or $1.51 more than the per-share consideration, as
recently as July. Finally, upon completion of the transaction,
JAG shareholders will own a meager 23% of the combined company.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition 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