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Concho Resources Inc. (CXO) Investor Notice: Update in Lawsuit for Investors who held shares of RSP Permian, Inc. (RSPP) announced by Shareholders Foundation

SAN DIEGO, CA / ACCESSWIRE / June 19, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who formerly held RSP Permian, Inc. (RSPP) shares.

Investors, who held shares of RSP Permian, Inc. (RSPP) and received Concho Resources Inc. (NYSE: CXO) shares as a result of the takeover, might have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 28, 2018, Concho Resources Inc. and RSP Permian, Inc. announced they have entered into an agreement under which Concho will acquire RSP Permian, Inc. (RSPP) in an all-stock transaction valued at approximately $9.5 billion, inclusive of RSP's net debt. The consideration will consist of 0.320 shares of Concho common stock or a value of approximately $50.24 for each share of RSP Permian, Inc. (RSPP) common stock.

In April 2018, a lawsuit was filed in connection with the takeover of RSP Permian, Inc. by Concho Resources Inc. The plaintiff alleged that the Defendants breached their fiduciary duties to the Company's stockholders by agreeing to the Proposed Transaction which undervalues RSP and is the result of a flawed sales process. The Complaint further alleged that the Registration Statement filed in connection with the takeover omitted and/or misrepresented material information concerning, among other things, the sales process leading up to the Proposed Transaction, the Company's financial projections, Concho's financial projections, and the data and inputs underlying the financial valuation analyses that purport to support the fairness opinions provided by the Company's financial advisor. In July 2018 the case was voluntarily dismissed.

Those who held shares of RSP Permian, Inc. (RSPP) and received Concho Resources Inc. (CXO) shares as a result of the takeover might have still certain options and should contact the Shareholders Foundation, Inc.

CONTACT:

Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.

SOURCE: Shareholders Foundation, Inc.



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https://www.accesswire.com/549209/Concho-Resources-Inc-CXO-Investor-Notice-Update-in-Lawsuit-for-Investors-who-held-shares-of-RSP-Permian-Inc-RSPP-announced-by-Shareholders-Foundation