NEW YORK, Aug. 11, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Vine Energy, Inc. ("Vine Energy" or the "Company") (NYSE: VEI) in connection with the proposed cash-and-stock acquisition of the Company by Chesapeake Energy Corporation ("Chesapeake") (NASDAQ: CHK). Under the terms of the merger agreement, Vine Energy shareholders will receive $1.20 in cash and 0.2486 shares of Chesapeake stock for each Vine Energy share they own, representing implied per-share merger consideration of approximately $15.00 based upon Chesapeake's August 10, 2021 closing price of $55.50. Upon completion of the transaction, Chesapeake shareholders will own approximately 86% and Vine shareholders will only own approximately 14% of the combined company. The transaction is valued at approximately $2.2 billion.
If you own Vine Energy shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
https://www.weisslaw.co/news-and-cases/vei
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw LLP is investigating whether: (i) Vine Energy's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the per-share merger consideration adequately compensates Vine Energy's shareholders, and (iii) 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
