ChampionX Corporation

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Ademi LLP is investigating ChampionX (Nasdaq: CHX) for possible breaches of fiduciary duty and other violations of law in its transaction with SLB.

In the transaction, ChampionX shareholders will receive only 0.735 shares of SLB common stock in exchange for each ChampionX share.  The transaction agreement unreasonably limits competing transactions for ChampionX by imposing a significant penalty if ChampionX accepts a competing bid. ChampionX insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of ChampionX’s board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.