Investors Sue Fracking Company For Fiduciary Breach Related To Merger Transaction

(March 6, 2024, 10:37 AM EST) -- WILMINGTON, Del. — A group of former minority investors in a hydraulic fracturing company have sued in Delaware state court the former members of the board of directors and a private equity firm that is a majority shareholder in the company, contending that they breached their fiduciary duties when they approved a merger between the company and another fracking services operator because the transaction was based on a deficient proxy statement and a “misinformed vote.”...