Rosen Law Firm Urges ChampionX Corporation (NASDAQ: CHX) Stockholders to Contact the Firm for Information About Their Rights
Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of sellers of common stock of ChampionX Corporation (NASDAQ: CHX) between February 29, 2024 and April 1, 2024 (the “Class Period”). ChampionX is a global provider of chemistry solutions, artificial lift systems, and equipment and technologies for oil and gas drilling and production.
For more information, submit a form, email attorney Phillip Kim, or give us a call at 866-767-3653.
The Allegations: Rosen Law Firm is Investigating the Allegations that ChampionX Corporation (NASDAQ: CHX) Misled Investors Regarding its Business Operations.
According to the lawsuit, defendants throughout the Class Period failed to disclose material information, which artificially deflated the price of ChampionX common stock. On February 29, 2024, ChampionX received an unsolicited non-public offer from Schlumberger Limited to purchase all the outstanding shares of ChampionX for $36.70 per share. On March 7, 2024, Schlumberger raised its offer to $37.80 per share. The lawsuit alleges that while these offers were on the table and unknown to the investing public, ChampionX was repurchasing its common stock at market prices significantly below the prices offered by Schlumberger. ChampionX had an obligation to disclose that it had received a formal acquisition offer from Schlumberger or abstain from purchasing ChampionX stock from unsuspecting investors. During the Class Period, ChampionX’s average stock price was $33.32 per share. On Tuesday, April 2, 2024, during pre-market hours, ChampionX disclosed the merger with Schlumberger. The merger eventually closed on July 16, 2025, with Schlumberger acquiring ChampionX for $40.58 per share.
