C&J Energy

Practice Area: 
Stock Symbol: 
CJ
Case Status: 
Investigations

Ademi & O’Reilly, LLP is investigating the C&J Energy Services (NYSE: CJ) for possible breaches of fiduciary duty and other violations of the law in connection with the sale of C&J to Keane.

Ademi & O’Reilly, LLP alleges C&J financial outlook is improving and yet C&J shareholders will receive only 1.6149 shares of Keane common stock for each share of C&J common stock owned.  Keane is merging with C&J at a substantial discount.  The merger agreement unreasonably limits competing bids for C&J by prohibiting solicitation of further bids, and imposing a termination penalty if C&J accepts a superior bid. C&J insiders will receive millions of dollars as part of change of control arrangements. We are investigating on the conduct of C&J’s board of directors, and whether they are (i) fulfilling their fiduciary duties to all shareholders, and (ii) obtaining a fair and reasonable price for C&J.