Parsley Energy, Inc.

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Ademi LLP is investigating Parsley Energy (NYSE: PE) for possible breaches of fiduciary duty and other violations of the law in its transaction with Pioneer.

Ademi LLP alleges Parsley Energy’s financial outlook is improving and yet shareholders will receive only a fixed exchange ratio of 0.1252 shares of Pioneer common stock for each share of Parsley Energy common stock owned. The merger agreement unreasonably limits competing bids for Parsley Energy by prohibiting solicitation of further bids, and imposing a termination penalty if Parsley Energy accepts a superior bid. Parsley Energy insiders will receive millions of dollars as part of change of control arrangements. We are investigating the conduct of Parsley Energy’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 Parsley Energy