ChampionX Faces Class Action Lawsuit Over Stock Sales
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
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Source: Globenewswire
- Lawsuit Background: Bragar Eagel & Squire has filed a class action lawsuit against ChampionX, alleging that the company failed to disclose material information from February 29 to April 1, 2024, which artificially deflated stock prices and harmed investors' rights.
- Acquisition Offer: During the lawsuit period, ChampionX received a non-public acquisition offer from Schlumberger at $36.70 per share, later raised to $37.80, yet the company repurchased its stock at lower market prices without informing investors.
- Stock Price Impact: The average stock price of ChampionX during the class period was $33.32 per share, while the final acquisition price was $40.58 per share, indicating potential losses for shareholders due to the company's failure to disclose timely information.
- Investor Action: Investors must apply by July 14, 2026, to be appointed as lead plaintiffs in the lawsuit to protect their rights, with the law firm offering free consultations to encourage affected shareholders to participate.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
