Bala Cynwyd, Pennsylvania--(Newsfile Corp. - April 30, 2024) - Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of ChampionX Corporation (NASDAQ: CHX) ("ChampionX" or the "Company") (NASDAQ: CHX) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the sale of the Company to SLB (NYSE: SLB). Under the terms of the agreement, ChampionX shareholders will receive 0.735 shares of SLB common stock in exchange for each ChampionX share. At the closing of the transaction ChampionX shareholders will own approximately 9% of SLB's outstanding shares of common stock.
The investigation concerns whether the ChampionX Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to the Company's shareholders and whether SLB is paying fair value to shareholders of the Company.
If you own shares of ChampionX stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman by email at clients@brodsky-smith.com, visit https://www.brodskysmith.com/cases/championx-corporation-nasdaq-chx/, or call toll free 855-576-4847.
Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207519
