Shareholder Alert: Ademi LLP investigates whether Earthstone Energy, Inc. has obtained a Fair Price in its transaction with Permian Resources

MILWAUKEE, Aug. 21, 2023 /PRNewswire/ -- Ademi LLP is investigating Earthstone (NYSE: ESTE) for possible breaches of fiduciary duty and other violations of law in its transaction with Permian Resources.

Click here to learn how to join the action https://www.ademilaw.com/case/earthstone-energy-inc or call Guri Ademi toll-free at 866-264-3995. There is no cost or obligation to you.

In the transaction, Earthstone stockholders are expected to receive only 1.446 shares of Permian Resources common stock for each share of Earthstone common stock in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone's net debt. The transaction agreement unreasonably limits competing transactions for Earthstone by imposing a significant penalty if Earthstone accepts a competing bid. Earthstone insiders will receive substantial benefits as part of change of control arrangements.

We are investigating the conduct of Earthstone's board of directors, and whether they are fulfilling their fiduciary duties to all shareholders.

If you own Earthstone common stock and wish to obtain additional information, please contact Guri Ademi either at gademi@ademilaw.com or toll-free: 866-264-3995, or https://www.ademilaw.com/case/earthstone-energy-inc

We specialize in shareholder litigation involving buyouts, mergers, and individual shareholder rights throughout the country. For more information, please feel free to call us. Attorney advertising. Prior results do not guarantee similar outcomes.

Contacts
Ademi LLP
Guri Ademi
Toll Free: (866) 264-3995
Fax: (414) 482-8001

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SOURCE Ademi LLP