Ranger Oil Corporation

Practice Area: 
Stock Symbol: 
Case Status: 

Ademi LLP is investigating Ranger Oil (NASDAQ: ROCC) for possible breaches of fiduciary duty and other violations of law in its transaction with Baytex Energy.

Ademi LLP alleges Ranger Oil’s financial outlook and prospects are excellent and yet Ranger Oil shareholders are expected to receive only 7.49 of common shares of Baytex and $13.31 in cash. The transaction agreement unreasonably limits competing bids for Ranger Oil by imposing a significant penalty if Ranger Oil accepts a superior bid. Ranger Oil insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Ranger Oil’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 Ranger Oil.