Noble Energy, Inc.

Stock Symbol: 
Case Status: 

Ademi & O’Reilly, LLP is investigating Noble (Nasdaq: NBL) for possible breaches of fiduciary duty and other violations of the law in connection with the sale to Chevron.

Ademi & O’Reilly, LLP alleges Noble’s financial outlook is improving and yet shareholders will receive only 0.1191 shares of Chevron for each Noble share or $10.38 per share, based on Chevron’s closing price on July 17, 2020. The merger agreement unreasonably limits competing bids for Noble by prohibiting solicitation of further bids, and imposing a termination penalty if Noble accepts a superior bid. Noble insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Noble’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 Noble.