NEW YORK, Nov. 22, 2021 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Goodrich Petroleum Corporation ("Goodrich" or the "Company") (NYSE: GDP) in connection with the proposed acquisition of the Company by a subsidiary of Paloma Partners VI Holdings, LLC, an affiliate of EnCap Energy Capital Fund XI L.P., via a tender offer. Under the terms of the acquisition agreement, the Company's shareholders will receive $23.00 per share in cash for each share of Goodrich common stock that they hold. The transaction is valued at approximately $6.2 billion.
If you own Goodrich shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
305 Broadway, 7th Floor
New York, NY 10007
WeissLaw LLP is investigating whether (i) Goodrich 's board of directors acted in the best interests of Company shareholders in agreeing to the proposed transaction, (ii) the $23.00 per-share offer price adequately compensates Goodrich's shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed. Notably, the offer price is below the $26.50 median price target set by analysts following the Company and at least one analyst set a price target for the Company of $50 per share, $27 above the per-share offer price.
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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SOURCE WeissLaw LLP