We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of PDC Energy, Inc. (“PDC Energy” or the “Company”)(NASDAQ: PDCE), in connection with its acquisition by Chevron Corporation (NYSE: CVX) (“Chevron”).  Under the terms of the merger agreement, the Company’s shareholders will receive 0.4638 shares of Chevron common stock for each share of PDC Energy common stock owned, representing implied per-share consideration of $71.23 based upon Chevron’s July 14, 2023 closing price of $153.58.  The transaction is valued at approximately $6.3 billion.

Weiss Law is investigating whether (i) PDC Energy’s board acted in the best interests of Company shareholders in agreeing to the merger, (ii) the merger consideration adequately compensates PDC Energy’s 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