Goodrich Petroleum Corporation

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Ademi LLP is investigating Goodrich (NYSE: GDP), for possible breaches of fiduciary duty and other violations of law in its transaction with Paloma.

Ademi LLP alleges Goodrich’s financial outlook and prospects are excellent and yet Goodrich shareholders will receive only approximately $23.00 per share. The merger agreement unreasonably limits competing bids for Goodrich by prohibiting solicitation of further bids, and imposing a significant penalty if Goodrich accepts a superior bid. Goodrich insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Goodrich’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for Goodrich.