Continental Resources, Inc. (NYSE:CLR) Investor Alert: Investigation over Takeover
An investigation on behalf of investors of Continental Resources, Inc. (NYSE:CLR) in connection with the proposed takeover was announced and NYSE:CLR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 11/02/2022 --An investigation on behalf of investors, who currently hold shares of Continental Resources, Inc. (NYSE: CLR), was announced concerning whether the takeover of Continental Resources, Inc. is unfair to NYSE: CLR stockholders.
Investors who purchased shares of Continental Resources, Inc. (NYSE: CLR) and currently hold any of those NYSE: CLR shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Continental Resources, Inc. breached their fiduciary duties owed to NYSE: CLR investors in connection with the proposed acquisition.
Oklahoma City, OK based Continental Resources, Inc. explores for, develops, produces, and manages crude oil, natural gas, and related products primarily in the north, south, and east regions of the United States.
On October 17, 2022, Continental announced that it had agreed to be acquired by Omega Acquisition, Inc. ("Omega"), an entity owned by Continental's founder, Harold G. Hamm. Pursuant to the merger agreement, Omega is expected to commence a tender offer to purchase "any and all of the outstanding shares of Continental's common stock at $74.28 per share," other than CLR shares already owned by Mr. Hamm.
However, given that at least one analyst has set the high target price for NYSE: CLR shares at $100.00 per share, the investigation concerns whether the offer is unfair to NYSE: CLR stockholders. More specifically, the investigation concerns whether the Continental Resources 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.
Continental Resources, Inc. reported that its annual Total Revenue rose from over $2.58 billion in 2020 to over $5.71 billion in 2021, and that its Net Loss of $596.86 million in 2020 turned into a Net Income of over $1.66 billion in 2021.
Those who are current investors in Continental Resources, Inc. (NYSE: CLR) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About The Shareholders Foundation
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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View this press release online at: http://rwire.com/1365896