WPX Energy, Inc.
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WPX MERGER INVESTIGATION: HALPER SADEH LLP ANNOUNCES INVESTIGATION INTO WHETHER THE SALE OF WPX ENERGY, INC. IS FAIR TO SHAREHOLDERS; INVESTORS ARE ENCOURAGED TO CONTACT THE FIRM – WPX
September 28, 2020.
New York, New York—Halper Sadeh LLP, a global investor rights law firm, is investigating whether the sale of WPX Energy, Inc. (NYSE: WPX) to Devon Energy Corporation for 0.5165 shares of Devon common stock for each share of WPX common stock is fair to WPX shareholders. On behalf of WPX shareholders, Halper Sadeh LLP may seek increased consideration for shareholders, additional disclosures and information concerning the proposed transaction, or other relief and benefits.
The investigation concerns whether WPX and its board of directors violated the federal securities laws and/or breached their fiduciary duties to shareholders by failing to: (1) obtain the best possible consideration for WPX shareholders; (2) determine whether Devon is underpaying for WPX; and (3) disclose all material information necessary for WPX shareholders to adequately assess and value the proposed transaction.
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