BALA CYNWYD, PA / ACCESSWIRE / December 21, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors ofQEP Resources ("QEP" or the "Company") (NYSE:QEP) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Diamondback Energy, Inc. ("Diamondback") (Nasdaq - FANG). Under the terms of the agreement, QEP stockholders will receive only 0.05 shares of Diamondback common stock for each share of QEP common stock, representing an implied value to each QEP stockholder of $2.29 per share based on the closing price of Diamondback common stock on December 18, 2020.
The investigation concerns whether the QEP Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Diamondback is paying too little for the Company. For example, the deal consideration is well below the 52-week high of $4.80 for QEP's shares.
If you own shares of QEP stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/qep-resources-nyse-qep/, or call toll free 855-576-4847.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC