PR Newswire | Sep 28, 2020 11:27AM EDT

Fair Price in its transaction with Devon Energy

09/28 10:27 CDT

Shareholder Alert: Ademi LLP Investigates whether WPX Energy has obtained a Fair Price in its transaction with Devon Energy MILWAUKEE, Sept. 28, 2020

MILWAUKEE, Sept. 28, 2020 /PRNewswire/ -- Ademi LLP is investigating WPX (NYSE: WPX) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to Devon.

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

Ademi LLP alleges WPX's financial outlook is improving and yet shareholders will receive only 0.5165 shares of Devon common stock for each share of WPX common stock owned. The merger agreement unreasonably limits competing bids for WPX by prohibiting solicitation of further bids, and imposing a termination penalty if WPX accepts a superior bid. WPX insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of WPX'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 WPX.

If you own common stock in WPX 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/wpx-energy.

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 & O'Reilly, LLPGuri AdemiToll Free: (866) 264-3995Fax: (414) 482-8001

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SOURCE Ademi LLP