openPR Logo
Press release

Investigation announced for Investors in shares Parsley Energy, Inc. (NYSE: PE) over Takeover

10-30-2020 05:38 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors of Parsley Energy, Inc. (NYSE: PE) in connection with the proposed takeover was announced

An investigation on behalf of investors of Parsley Energy, Inc. (NYSE: PE) in connection with the proposed takeover was announced

An investigation was announced concerning whether the takeover of Parsley Energy, Inc. is unfair to NYSE: PE stockholders.

Investors who purchased shares of Parsley Energy, Inc. (NYSE: PE) and currently hold any of those NYSE: PE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of Parsley Energy, Inc. breached their fiduciary duties owed to NYSE: PE investors in connection with the proposed acquisition.

Austin, TX based Parsley Energy, Inc., an independent oil and natural gas company, engages in the acquisition, development, exploration, production, and sale of crude oil and natural gas properties in the Permian Basin in west Texas and Southeastern New Mexico.

On October 20, 2020 - Pioneer Natural Resources Company (NYSE:PXD) and Parsley Energy, Inc. (NYSE:PE) announced that they have entered into an agreement under which Pioneer Natural Resources Company will acquire all of the outstanding shares of Parsley Energy, Inc. (NYSE: PE) in an all-stock transaction valued at approximately $4.5 billion as of October 19, 2020. Under the terms of the agreement, Parsley Energy, Inc. (NYSE: PE) shareholders will receive a fixed exchange ratio of 0.1252 shares of Pioneer Natural Resources Company common stock for each share of Parsley Energy, Inc. (NYSE: PE) common stock owned. Based on a closing price of $87.05 per NYSE: PXD on Oct 19, 2020, investors in Parsley Energy, Inc. (NYSE: PE) will receive a value of approximately $10.89 per NYSE: PE share.

However, given that at least one analyst has set the high target price for NYSE: PE shares at $22.00 per share, the investigation concerns whether the offer is unfair to NYSE: PE stockholders. More specifically, given that Parsley Energy, Inc’s largest investor, Quantum Energy Partners, which owns approximately 17% of Parsley Energy, Inc’s outstanding shares, has executed a Voting and Support Agreement in connection with the transaction, the investigation concerns whether the Parsley Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

Parsley Energy, Inc. reported that its annual Total Revenue rose from over $1.82 billion in 2018 to over $1.95 billion in 2019.

Those who are current investors in Parsley Energy, Inc. (NYSE: PE) shares have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Investigation announced for Investors in shares Parsley Energy, Inc. (NYSE: PE) over Takeover here

News-ID: 2177479 • Views:

More Releases from Shareholders Foundation

Biohaven Ltd. (NYSE: BHVN) Investor Alert: Deadline in Lawsuit on September 12, 2025
Biohaven Ltd. (NYSE: BHVN) Investor Alert: Deadline in Lawsuit on September 12, …
A deadline is coming up on September 12, 2025in the lawsuit filed for certain investors of Biohaven Ltd. (NYSE: BHVN) over alleged securities laws violations by Biohaven Ltd. Investors who purchased shares of Biohaven Ltd. (NYSE: BHVN) have certain options and there are strict and short deadlines running. Deadline: September 12, 2025. NYSE: BHVN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. According to the
Investigation announced for Long-Term Investors in shares of West Pharmaceutical Services, Inc. (NYSE: WST) over potential Wrongdoing
Investigation announced for Long-Term Investors in shares of West Pharmaceutical …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of West Pharmaceutical Services, Inc.. Investors who are current long term investors in West Pharmaceutical Services, Inc. (NYSE: WST) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in (NYSE: WST stocks follows a lawsuit filed
Investigation announced for Long-Term Investors in Open Lending Corporation (NASDAQ: LPRO) over potential Wrongdoing
Investigation announced for Long-Term Investors in Open Lending Corporation (NAS …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Open Lending Corporation. Investors who are current long term investors in Open Lending Corporation (NASDAQ: LPRO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: LPRO stocks follows a lawsuit filed against Open
Investigation announced for Long-Term Investors in shares in BigBear.ai Holdings, Inc. (NYSE: BBAI)
Investigation announced for Long-Term Investors in shares in BigBear.ai Holdings …
An investigation on behalf of current long-term investors in shares of BigBear.ai Holdings, Inc. (NYSE: BBAI) concerning potential breaches of fiduciary duties by certain directors and officers of BigBear.ai Holdings, Inc. was announced. Investors who are current long term investors in BigBear.ai Holdings, Inc. (NYSE: BBAI) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm

All 5 Releases


More Releases for Energy

Green Renewable Energy Market Next Big Thing: Enphase Energy, Bloom Energy, Clea …
Advance Market Analytics published a new research publication on "Green Renewable Energy Market Insights, to 2030" with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Green Renewable Energy market was mainly driven by the increasing R&D spending across the world. Get inside Scoop of the
Business Energy Solution Market Size in 2023 To 2029 | SSE Energy Solutions, BES …
The large-scale Business Energy Solution market report provides valuable insights for clients looking to forecast investments in emerging markets, expand market share, or launch new products. The report presents multifaceted Business Energy Solution market insights that are simplified using established tools and techniques, making it a credible marketing report. Data is presented in a clear and easy-to-understand manner, with graphs and charts to aid comprehension. The report employs integrated approaches
Decentralized Energy Storage Market Is Booming Worldwide | Fuelcell Energy, Enph …
A new business intelligence report released by AMA with title "Decentralized Energy Storage Market" has abilities to raise as the most significant market worldwide as it has remained playing a remarkable role in establishing progressive impacts on the universal economy. The Global Decentralized Energy Storage Market Report offers energetic visions to conclude and study market size, market hopes, and competitive surroundings. The research is derived through primary and secondary statistics
Waste-To-Energy Technologies Market Top Growing Companies: Xcel Energy, Novo Ene …
Qurate Business Intelligence’s up-to-date research study on Waste-To-Energy Technologies was performed by highly qualified research professionals and industry experts. This is to provide an in-depth analysis on the Waste-To-Energy Technologies. The report is comprehensive and includes over 120 pages. The global energy market is witnessing a shift toward waste to energy technologies due to growing energy demands worldwide, the rapid depletion of conventional sources of energy, and concerns over
Waste To Energy Market ||Novo Energy Ltd., Hitachi Zosen, Foster Wheeler A.G., S …
Zion Market Research published a new 110+ pages industry research "Global Waste to Energy Market Set For Rapid Growth, To Reach Value Around USD 42.74 Billion By 2024" is exhaustively researched and analyzed in the report to help market players to improve their business tactics and ensure long-term success. The authors of the report have used easy-to-understand language and uncomplicated statistical images but provided thorough information and detailed data on
In-Pipe Hydro Systems Market | key player - Lucid Energy, Rentricity, Tecnoturbi …
Looking at the current market trends as well as the promising demand status of the “In-Pipe Hydro Systems Market” it can be projected that the future years will bring out positive outcomes. This research report added by MRRSE on its online portal delivers clear insight about the changing tendencies across the global market. Readers can gather prime facets connected to the target market which includes product, end-use and application; assisting