BALA CYNWYD, Pa., March 08, 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.
Ranger Oil Corporation (Nasdaq – ROCC)
Under the terms of the deal, Ranger Oil will be acquired by Baytex Energy Corp. (“Baytex”) (NYSE - BTE). Ranger shareholders will receive 7.49 Baytex shares plus US$13.31 cash, for each Ranger common share, for total consideration of approximately US$44.36 per share. The total consideration to be paid by Baytex, including assumption of net debt, is approximately US$2.5 billion. The investigation concerns whether the Ranger Oil Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Baytex is paying too little for the Company. For example, the deal consideration is below the 52-wek high of US$53.59 for the Company’s shares.
Additional information can be found at https://www.brodskysmith.com/cases/ranger-oil-corporation-nasdaq-rocc/.
Sumo Logic (Nasdaq – SUMO)
Under the terms of the agreement, Sumo will be acquired by affiliates of Francisco Partners. Sumo stockholders will receive $12.05 per common share at a total expected equity value of approximately $1.7 billion. The investigation concerns whether the Sumo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, and whether Francisco Partners is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/sumo-logic-nasdaq-sumo/.
Focus Financial Partners Inc. (Nasdaq - FOCS)
Under the terms of the agreement, Focus Financial will be acquired by affiliates of Clayton, Dubilier & Rice, LLC (“CD&R”). CD&R will pay $53.00 in cash for each share of Focus Financial common stock in a deal with an enterprise value of approximately $7 billion. The investigation concerns whether the Focus Financial Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether CD&R is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/focus-financial-partners-inc-nasdaq-focs/.
TravelCenters of America Inc. (Nasdaq - TA)
Under the terms of the Merger Agreement, TravelCenters will be acquired by BP p.l.c. (NYSE - BP). BP will pay $86.00 in cash for each share of TravelCenters common stock in a deal valued at approximately $1.3 billion. The investigation concerns whether the TravelCenters Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether BP is paying too little for the Company.
Additional information can be found at https://www.brodskysmith.com/cases/travelcenters-america-inc-nasdaq-ta/.
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.
