Shareholder Alert: Ademi LLP investigates whether PDC Energy, Inc. has obtained a Fair Price in its transaction with Chevron

MILWAUKEE, May 22, 2023 /PRNewswire/ -- Ademi LLP is investigating PDC (NASDAQ: PDCE) for possible breaches of fiduciary duty and other violations of law in its transaction with Chevron. 

Click here to learn how to join the action https://www.ademilaw.com/case/pdc-energy-inc or call Guri Ademi toll-free at 866-264-3995.  There is no cost or obligation to you.

PDC public stockholders are expected to receive only $72 per share. Based on Chevron's closing price on May 19, 2023 and under the terms of the agreement, PDC shareholders will receive 0.4638 shares of Chevron for each PDC share. The total enterprise value, including debt, of the transaction is $7.6 billion. The transaction agreement unreasonably limits competing bids for PDC by imposing a significant penalty if PDC accepts a superior bid. PDC insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of PDC's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for PDC.

If you own PDC common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/pdc-energy-inc.                       

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLP

Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

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SOURCE Ademi LLP