According to the Complaint, Jagged Peak Energy Inc. is an independent oil and natural gas company focused on the acquisition and development of unconventional oil and associated liquids-rich natural gas reserves in the southern Delaware Basin, a sub-basin of the Permian Basin of West Texas.

This action stems from a proposed transaction announced on October 14, 2019, pursuant to which Jagged Peak Energy Inc. will be acquired by Parsley Energy, Inc.

On October 14, 2019, Jagged Peak’s Board of Directors caused the Company to enter into an agreement and plan of merger with Parsley. Pursuant to the terms of the Merger Agreement, Jagged Peak’s stockholders will receive 0.447 shares of Parent common stock for each share of Jagged Peak common stock they own.

On November 5, 2019, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.

This case was voluntarily dismissed on January 28, 2020.