NEW YORK, Nov. 30, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the officers or directors of Goodrich Petroleum Corporation (NYSE: GDP) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by an affiliate of Paloma Partners VI Holdings, LLC.
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On November 22, 2021, Goodrich announced that it had entered into an agreement to be acquired by Paloma in a deal worth approximately $6.2 billion. Pursuant to the merger agreement, Goodrich stockholders will receive $23 in cash for each share of Goodrich common stock owned. The deal is scheduled to close in the fourth quarter of 2021.
On November 24, 2021, Paloma commenced its tender offer to acquire all outstanding shares of Paloma common stock. The tender offer is scheduled to expire at one minute following 11:59 P.M. Eastern Time, on December 22, 2021.
Bragar Eagel & Squire is concerned that Goodrich’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Goodrich’s stockholders.
If you own shares of Goodrich and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.