An investigation on behalf of investors of Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) in connection with the proposed takeover was announced.
San Diego, CA -- (SBWIRE) -- 07/24/2019 -- An investigation was announced concerning whether the takeover of Carrizo Oil & Gas, Inc. is unfair to NASDAQ: CRZO stockholders.
Investors who purchased shares of Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) and currently hold any of those NASDAQ: CRZO shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Carrizo Oil & Gas, Inc. breached their fiduciary duties owed to NASDAQ: CRZO investors in connection with the proposed acquisition.
Houston, TX based Carrizo Oil & Gas, Inc., an energy company, explores for, develops, and produces crude oil, natural gas liquids, and gas from resource plays primarily in the United States. On July 15, 2019, Callon Petroleum Company (NYSE: CPE) and Carrizo Oil & Gas, Inc. (Nasdaq: CRZO) announced that their Boards of Directors have approved a definitive agreement under which Callon will acquire Carrizo in an all-stock transaction valued at $3.2 billion. Under the terms of the agreement, Carrizo shareholders will receive a fixed exchange ratio of 2.05 Callon shares for each share of Carrizo common stock they own, or a value of approximately $13.12 per NASDAQ:CRZO share.
However, given that at least one analyst has set the high target price for NASDAQ: CRZO shares at $15.00 per share, the investigation concerns whether the offer is unfair to NASDAQ: CRZO stockholders. More specifically, the investigation concerns whether the Carrizo Oil & Gas Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Carrizo Oil & Gas, Inc. reported that its annual Total Revenue rose from $344.07 million in 2017 to $551.86 million in 2018 and that its Net Income increased from $120.42 million in 2017 to $300.36 million in 2018.
On July 23, 2019, NASDAQ: CRZO shares closed at $5.38 per share.
Those who are current investors in Carrizo Oil & Gas, Inc. (NASDAQ: CRZO) shares have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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