Lawsuit filed for Investors in WPX Energy, Inc. (NYSE: WPX) in connection with Merger

An investor, who currently hold shares of WPX Energy, Inc. (NYSE: WPX), filed a lawsuit in concerning with the takeover of WPX Energy, Inc. by Devon Energy.

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

The plaintiff alleges that WPX Energy, Inc filed to disclose information relevant to the proposed takeover.

Tulsa, OK based WPX Energy, Inc., an independent oil and natural gas exploration and production company, engages in the exploitation and development of unconventional properties in the United States.

On September 28, 2020, Devon Energy (NYSE: DVN) and WPX Energy, Inc. (NYSE: WPX) announced they have entered into an agreement to combine in an all-stock merger of equals transaction. Under the terms of the agreement, WPX Energy, Inc. shareholders will receive a fixed exchange ratio of 0.5165 shares of Devon common stock for each share of NYSE: WPX common stock owned. Based on a closing price of $8.82 per NYSE: DVN share on September 25, 2020, investors in WPX Energy, Inc. (NYSE: WPX) will receive a value of approximately $4.55 per NYSE: WPX share.

At least one analyst has set the high target price for NYSE: WPX shares at $19.00 per share and shares of WPX Energy, Inc. (NYSE: WPX) rose after the merger announcement in the open market to as high as $7.91 per share on November 24, 2020.

Certain Funds managed by EnCap Investments L.P. own approximately 27 percent of the outstanding shares of WPX and have already entered into a support agreement to vote in favor of the transaction.

Those who are current investors in WPX Energy, Inc. (NYSE: WPX) 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.