WILMINGTON, Del., Oct. 20, 2020 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A. announces that it has filed a class action complaint in the United States District Court for the District of Delaware on behalf of holders of Montage Resources Corporation (“Montage” or the “Company”) (NYSE: MR) common stock in connection with the proposed acquisition of Montage by Southwestern Energy Company (“Southwestern”) announced on August 12, 2020 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange Act of 1934 against Montage, its Board of Directors (the “Board”), and Southwestern, is captioned Wolf v. Montage Resources Corporation, Case No. 1:20-cv-01324 (D. Del.).
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On August 12, 2020, Montage entered into an agreement and plan of merger (the “Merger Agreement”) with Southwestern. Pursuant to the terms of the Merger Agreement, Montage’s shareholders will receive 1.8656 shares of Southwestern common stock per share (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed Transaction, defendants issued materially incomplete disclosures in a Form S-4 Registration Statement (the “Registration Statement”) filed with the United States Securities and Exchange Commission. The Complaint alleges that the Registration Statement omits material information with respect to, among other things, the Company’s and Southwestern’s financial projections and the analyses performed by Montage’s financial advisor. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of Montage common stock.
If you wish to serve as lead plaintiff, you must move the Court no later than December 21, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Rigrodsky & Long, P.A., with offices in Delaware and New York, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in securities fraud and corporate class actions nationwide.
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