PR Newswire | Dec 21, 2020 01:30PM EST

obtained a Fair Price in its transaction with Diamondback Energy, Inc.

12/21 12:30 CST

Shareholder Alert: Ademi LLP Investigates whether QEP Resources, Inc. has obtained a Fair Price in its transaction with Diamondback Energy, Inc. MILWAUKEE, Dec. 21, 2020

MILWAUKEE, Dec. 21, 2020 /PRNewswire/ -- Ademi LLP is investigating QEP Resources (NYSE:QEP) for possible breaches of fiduciary duty and other violations of the law in its transaction with Diamondback.

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

Ademi LLP alleges QEP Resources' financial outlook is improving and yet QEP Resources shareholders will receive only 0.05 shares of Diamondback common stock for each share of QEP Resources common stock, representing an implied value to each QEP Resources stockholder of $2.29 per share based on the closing price of Diamondback common stock on December 18, 2020. The merger agreement unreasonably limits competing bids for QEP Resources by prohibiting solicitation of further bids, and imposing a termination penalty if QEP Resources accepts a superior bid. QEP Resources insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of QEP Resources' board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for QEP Resources.

If you own QEP Resources common stock 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/qep-resources-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