BOSTON, MA / ACCESSWIRE / October 18, 2019 / Berman Tabacco (www.bermantabacco.com), a national law firm representing investors, is investigating potential breaches of fiduciary duty by the Officers and Directors of Parsley Energy, Inc. ("Parsley Energy") (NYSE:PE) and Jagged Peak Energy Inc. ("Jagged Peak") (NYSE:JAG) in connection with Parsley Energy's all-stock acquisition of Jagged Peak announced on October 14, 2019.
The acquisition is valued at approximately $2.27 billion, including Jagged Peak's net debt of approximately $625 million as of June 30, 2019. Jagged Peak shareholders will receive a fixed exchange ratio of 0.447 shares of Parsley Class A common stock for each share of Jagged Peak common stock they own, or $7.95 per Jagged Peak share based on Jagged Peak's closing price on October 11, 2019, a substantial discount. This deal represents a 1.5% premium to Jagged Peak's 30-day volume weighted average price.
Berman Tabacco is investigating whether the Officers and Directors of Parsley Energy and/or Jagged Peak breached their fiduciary duties in connection with this proposed merger and whether the negotiation of this transaction was free of improper conflicts of interest .
If you owned common stock of either Parsley Energy or Jagged Peak before October 14, 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/parsley-energy-inc/.
Berman Tabacco is a national law firm representing institutions and individuals in lawsuits, seeking to recoup losses caused by corporate board misconduct and violations of securities and antitrust laws. The firm has 38 lawyers in Boston, Massachusetts and San Francisco, California.
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Contacts
Claire Collins
[email protected]
1-800-516-9926
SOURCE: Berman Tabacco