NEW YORK, May 5, 2020 /PRNewswire/ -- WeissLaw
LLP is investigating possible breaches of fiduciary duty and
other violations of law by the Board of Directors of Quintana
Energy Services, Inc. ("QES" or the "Company") (NYSE: QES) in
connection with the proposed acquisition of the Company by KLX
Energy Services Holdings, Inc. ("KLXE") (NASDAQ: KLXE). Under
the terms of the acquisition agreement, shareholders will receive
0.4844 shares of a KLXE common stock for QES share they own.
This represents consideration of approximately $0.64 per QES share, based on KLXE's closing
price of $1.32 on May 4, 2020.
If you own QES shares and wish to discuss this
investigation or have any questions concerning this notice or your
rights or interests, visit our website:
http://www.weisslawllp.com/quintana-energy-services-inc/
Or please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com
WeissLaw is investigating whether QES's board acted to maximize
shareholder value prior to entering into the acquisition
agreement. Notably, at least one analyst set a target price
of $9.00 per QES share.
Moreover, at the close of the transaction, KLXE shareholders will
own the majority of the combined company with a 59% stake in the
new company, leaving the remaining 41% to QES shareholders.
Given these facts, WeissLaw is concerned whether the proposed
acquisition undervalues the Company, and whether all material
information related to the proposed acquisition is fully and fairly
disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and
derivative actions for violations of corporate and fiduciary
duties. We have recovered over a billion dollars for
defrauded clients and obtained important corporate governance
relief in many of these cases. If you have information or
would like legal advice concerning possible corporate wrongdoing
(including insider trading, waste of corporate assets, accounting
fraud, or materially misleading information), consumer fraud
(including false advertising, defective products, or other
deceptive business practices), or anti-trust violations, please
email us at stockinfo@weisslawllp.com
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SOURCE WeissLaw LLP