MILWAUKEE, Feb. 9, 2024 /PRNewswire/ -- Ademi LLP is investigating CRC (NYSE: CRC) for possible breaches of fiduciary duty and other violations of law in its transaction with Aera Energy.
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In the transaction, CRC will issue 21.2 million shares of its common stock to the equity owners of Aera, and refinance Aera's outstanding debt. CRC has secured a firm commitment for a $500 million bridge loan facility to facilitate closing. At current valuations, the combined company would have an enterprise value of approximately $5.6 billion, with CRC shareholders owning approximately 77.1%.
We are investigating the conduct of CRC's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.
If you own CRC 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/california-resources-corporation.
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.
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SOURCE Ademi LLP
