SAN DIEGO & THE WOODLANDS, Texas--(EON: Enhanced Online News)--Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Earthstone Energy, Inc. (NYSE MKT: ESTE) breached their fiduciary duties to shareholders. Earthstone, an independent oil and natural gas exploration and production company, focuses on the acquisition, development, exploration, and production of onshore, crude oil, and natural gas reserves in the United States.
View this press release on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/earthstone-energy-inc
Earthstone Set to Combine with Bold Energy
Pursuant to an agreement between Earthstone and the privately held company Bold Energy III LLC, the companies will combine, leaving Earthstone shareholders with less than one third of the surviving company. According to the terms, Bold will purchase 36,070,828 shares of Class B common stock for nominal consideration from Earthstone. Further, the Earthstone name will survive and the current management will continue to run the company.
Earthstone Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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