NEW YORK, April 16, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Anadarko Petroleum Corporation ("APC" or the "Company") (APC) in connection with the proposed acquisition of the Company by Chevron Corporation ("CVX") (CVX). Under the terms of the agreement, shareholders of APC will receive 0.3869 shares of CVX and $16.25 in cash for each share of APC they own. This represents consideration of $62.58 per APC share, based on CVX's April 12 closing price.
If you own APC shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
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WeissLaw is investigating whether APC's Board acted to maximize shareholder value prior to entering into the agreement. Notably, APC shares traded for $70.90, or $8.32 above the per share consideration, as recently as October. In addition, the Company recently announced a dividend increase from $0.05 to $0.30 per share.
Given these facts, WeissLaw is concentrating its investigation on whether APC's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is 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 email@example.com
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