Wildhorse Resource Development Corporation Securities Litigation

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Lawsuit Overview

Defendant:WildHorse Resource Development Corporation
Date Filed:January 4th, 2019
Sector:Energy
Industry:Oil & Gas Production

According to the Complaint, the Proposed Transaction was first disclosed on October 30, 2018, when WildHorse and Chesapeake Energy announced that they had entered into a definitive merger agreement (the "Merger Agreement") pursuant to which Chesapeake Energy will acquire all of the outstanding shares of common stock of WildHorse in a mix of cash and stock. Shareholders can elect to either receive 5.989 shares of Chesapeake Energy stock or 5.336 in stock and $3.00 in cash. The deal is valued at approximately $3.97 billion and is
expected to close in the first half of 2019.

The Complaint alleges that Defendants caused a materially incomplete and misleading proxy statement to be filed with the Securities and Exchange Commission ("SEC") on December 26, 2018. Specifically, the Complaint alleges that the Proxy contains materially incomplete and misleading information concerning the sales process, financial projections prepared by WildHorse management, as well as the financial analyses conducted by WildHorse's financial advisors.

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First Identified Complaint

Suryanarayanan Ranganathan, et al. v. Wildhorse Resource Development Corporation, et al.

Date Filed:January 4th, 2019
Class Period Start:October 30th, 2018
Class Period End:January 4th, 2019
First Identified Complaint Filings
#Document TitleFiling Date