BALA CYNWYD, PA / ACCESSWIRE / May 10, 2021 / Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Extraction Oil & Gas, Inc. ("Extraction" or the "Company") (NASDAQ:XOG) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to be acquired by Bonanza Creek Energy, Inc. ("Bonanza Creek") (NYSE:BCEI). Under the terms of the definitive merger agreement, Extraction shareholders will receive a fixed exchange ratio of only 1.1711 shares of Bonanza Creek common shares for each share of Extraction common stock owned on the closing date.
The investigation concerns whether the Extraction Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether Bonanza Creek is paying too little for the Company.
If you own shares of Extraction 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 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, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, visit https://www.brodskysmith.com/cases/extraction-oil-gas-inc-nasdaq-xog/, or call toll free 855-576-4847.
Brodsky & Smith 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