PR Newswire | Oct 21, 2020 08:57PM EDT

10/21 19:57 CDT

SHAREHOLDER ALERT: WeissLaw LLP Investigates Parsley Energy, Inc. NEW YORK, Oct. 21, 2020

NEW YORK, Oct. 21, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Parsley Energy, Inc. ("PE" or the "Company") (NYSE: PE) in connection with the proposed acquisition of the Company by Pioneer Natural Resources Company ("Pioneer Natural"). Under the terms of the acquisition agreement, PE stockholders will receive 0.1252 shares of Pioneer Natural common stock for each share of PE common stock that they own, representing implied per-share merger consideration of $10.46 based upon Pioneer Natural's October 20, 2020 closing price of $83.53.

If you own PE shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslawllp.com/pe/

Or please contact:Joshua Rubin, Esq.WeissLaw LLP1500 Broadway, 16th FloorNew York, NY 10036(212) 682-3025(888) 593-4771stockinfo@weisslawllp.com

WeissLaw is investigating whether PE's board acted in the best interest of PE's public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of the proposed acquisition and the merger consideration represents full value for the Company, and whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction will be fully and fairly disclosed.

WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com

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SOURCE WeissLaw LLP