We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of ChampionX Corporation (“ChampionX” or the “Company”) (NASDAQ: CHX) in connection with its acquisition by Schlumberger Limited (“Schlumberger”)(NYSE: SLB).  Under the terms of the merger agreement, the Company’s shareholders will receive 0.735 shares of Schlumberger common stock for each share of ChampionX common stock owned, representing implied per-share consideration of $40.32 based upon Schlumberger’s April 3, 2024 closing price of $54.86.

Weiss Law is investigating whether (i) the ChampionX board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the merger consideration adequately compensates ChampionX shareholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

Weiss Law has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties.  We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases.  If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at stockinfo@weisslawllp.com