NEW YORK, Aug. 29, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of SRC Energy Inc. ("SRC" or the "Company") (SRCI) in connection with its proposed merger with PDC Energy, Inc. ("PDC") (PDCE). Under the terms of the merger agreement, SRC shareholders will receive a fixed exchange ratio of 0.158 PDC shares for each share of SRC common stock owned, for an implied value of $3.99 per share based on the August 23, 2019 closing price. PDC shareholders will own 62% of the combined company.
If you own SRCI shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
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New York, NY 10036
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WeissLaw is investigating whether SRC's Board failed to maximize shareholder value when entering into the merger agreement. Notably, the Company's average rating from analysts is "Buy," with a consensus price target of $10.69 per share. Additionally, SRC's reported $0.22 earnings per share for the second quarter matched Zacks' consensus estimate.
Given these facts, WeissLaw is concentrating its investigation on whether the merger enhances shareholder value. Specifically, WeissLaw is concerned whether SRC's Board conducted a fair process in agreeing to the proposed merger, whether the proposed merger undervalues the Company, and whether all material information related to the proposed merger 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 firstname.lastname@example.org
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