BALA CYNWYD, Pa., Sept. 14, 2023 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.
Earthstone Energy, Inc. (NYSE - ESTE)
Under the terms of the Merger Agreement, Earthstone Energy will be acquired by Permian Resources Corporation (“Permian Resources”) (NYSE - PR). The all-stock transaction will consist of 1.446 shares of Permian Resources common stock for each share of Earthstone Energy common stock, representing an implied value to each Earthstone Energy stockholder of $18.64 per share based on the closing price of Permian Resources common stock on August 18, 2023. After closing, existing Permian Resources shareholders will own approximately 73% of the combined company and existing Earthstone Energy shareholders will own approximately 27% of the combined company. The investigation concerns whether the Earthstone Energy Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Permian Resources is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/earthstone-energy-inc-nyse-este/.
Fiesta Restaurant Group, Inc. (Nasdaq - FRGI)
Under the terms of the agreement, Fiesta will be acquired by Authentic Restaurant Brands (“ARB”). Each share of Fiesta common stock will be entitled to receive $8.50 per share in cash. The investigation concerns whether the Fiesta Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether ARB is paying fair value to shareholders of the Company. For example, the deal consideration is below the 52-week high of $9.28 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/fiesta-restaurant-group-inc-nasdaq-frgi/.
Veritiv Corporation (NYSE - VRTV)
Under the terms of the agreement, Veritiv will be acquired by an affiliate of Clayton, Dubilier & Rice, LLC (“CD&R”). Each share of Veritiv common stock will be entitled to receive $170 per share in cash. The investigation concerns whether the Veritiv Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether CD&R is paying fair value to shareholders of the Company.
Additional information can be found at https://www.brodskysmith.com/cases/veritiv-corporation-nyse-vrtv/.
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.
