NEW YORK , Dec. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of QEP Resources Inc. ("QEP" or the "Company") (NYSE: QEP) in connection with the proposed acquisition of the Company by Diamondback Energy, Inc. ("Diamondback") (NASDAQ: FANG), an independent oil and natural gas company. Under the terms of the merger agreement, QEP shareholders will receive 0.05 shares of Diamondback stock for each QEP share they hold, representing an implied value to each QEP shareholder of $2.29 per share based on Diamondback's December 18, 2020 closing stock price of $45.84 . Upon closing of the transaction, QEP shareholders are expected to own approximately just 7.2% of the combined company.
If you own QEP shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
http://www.weisslawllp.com/QEP/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16 th Floor
New York , NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether QEP's board acted in the best interest of QEP's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition of the Company, and whether all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP
