Under the Symbol:
Berman Tabacco Investigates the Board of Directors of Roan Resources, Inc., in Connection With its Proposed Sale to Citizen Energy Operating, LLC
Friday, October 4, 2019 1:00 PM
BOSTON, MA / ACCESSWIRE / October 4, 2019 / Berman Tabacco (www.bermantabacco.com) is investigating potential claims against the board of directors of Roan Resources, Inc. ("Roan" or the "Company") (NYSE:ROAN) concerning the proposed sale of Roan to Citizens Energy Operating LLC, an affiliate of private equity fund Warburg Pincus LLC.
The acquisition is valued at $1 billion. Stockholders will receive $1.52 for each share of common stock they hold, representing approximately $220 million of the purchase price. Within the past year, the Company's stock price has exceeded $18.00 per share. The bulk of the $1 billion transaction price will pay for existing company debt, in the amount of approximately $780 million, some of which is allegedly held by large stockholders.
Berman Tabacco is investigating whether Roan's board of directors breached their fiduciary duties in connection with the proposed sale. The investigation also concerns whether they obtained the best possible price for stockholders in a negotiation free of improper conflict of interest and adequately disclosed all material information to its stockholders.
If you own common stock of Roan and purchased any shares before October 1, 2019 and you would like more information regarding this investigation, or if you wish simply to share information about the investigation, please visit: https://www.bermantabacco.com/case/roan-resources-inc/.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate and board misconduct and violations of the securities and antitrust laws. The firm has 38 lawyers in Boston, Massachusetts and San Francisco, California.
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SOURCE: Berman Tabacco