PR Newswire | Oct 20, 2020 07:11PM EDT

obtained a Fair Price in its transaction with Pioneer Natural Resources Company

10/20 18:11 CDT

Shareholder Alert: Ademi LLP Investigates whether Parsley Energy, Inc. has obtained a Fair Price in its transaction with Pioneer Natural Resources Company MILWAUKEE, Oct. 20, 2020

MILWAUKEE, Oct. 20, 2020 /PRNewswire/ -- Ademi LLP is investigating Parsley Energy (NYSE: PE) for possible breaches of fiduciary duty and other violations of the law in its transaction with Pioneer.

Click here to learn how to join the action: http://ademilaw.com/case/parsley-energy-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

Ademi LLP alleges Parsley Energy's financial outlook is improving and yet shareholders will receive only a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley Energy common stock owned. The merger agreement unreasonably limits competing bids for Parsley Energy by prohibiting solicitation of further bids, and imposing a termination penalty if Parsley Energy accepts a superior bid. Parsley Energy insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Parsley Energy's board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Parsley Energy.

If you own common stock in Parsley Energy and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or http://ademilaw.com/case/parsley-energy-inc.

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts

Ademi LLPGuri AdemiToll Free: (866) 264-3995Fax: (414) 482-8001

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SOURCE Ademi LLP