July 17, 2023
PDC Energy, Inc. Investigation
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.
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