Memorial Resource Development Corp. Securities Litigation
On or around 11/14/2016 (Notice of voluntarily dismissal)
Filing Date: July 11, 2016
According to the Complaint, on May 16, 2016, Memorial and Range issued a joint press release announcing that they had entered into an Agreement and Plan of Merger dated May 15, 2016 (the “Merger Agreement”), to sell Memorial to Range. Under the terms of the Merger Agreement, Range would acquire all outstanding shares of Memorial for 0.375 of a Range common share per Memorial common share (the “Merger Consideration”). The Merger Consideration is valued at $15.75 per share based on the May 13, 2016 Range closing price of $42.01.
The Complaint alleges the Proposed Transaction is the result of an unfair process and provides the The Proposed Transaction is the result of an unfair process and provides the Company’s stockholders with inadequate consideration.
This case was voluntarily dismissed on November 14, 2016.
Company & Securities Information
Defendant: Memorial Resource Development Corp.
Industry: Oil & Gas Operations
Headquarters: United States
Ticker Symbol: MRD
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Roger Mariani, et al. v. Memorial Resource Development Corp., et al.