UNITHOLDER ALERT: Weiss Law Investigates Rattler Midstream LP

Rhea-AI Summary

Weiss Law is investigating potential breaches of fiduciary duty by Rattler Midstream LP's board of directors regarding its proposed merger with Diamondback Energy, Inc. Under the agreement, unitholders of Rattler will receive 0.113 units of Diamondback for each Rattler unit, translating to an implied value of approximately $15.08 based on Diamondback's recent closing price of $133.43. The investigation will assess whether the board acted in the best interest of unitholders and whether the merger consideration is adequate.

Positive

• Proposed merger with Diamondback Energy might bring strategic benefits.

Negative

• Investigation into potential breaches of fiduciary duty raises concerns about the board's decision-making.
• Unclear if the merger consideration adequately compensates unitholders.

NEW YORK, May 16, 2022 /PRNewswire/ -- Weiss Law is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Rattler Midstream LP ("Rattler" or the "Company") (NASDAQ: RTLR), in connection with the proposed merger of the Company with Diamondback Energy, Inc. ("Diamondback") (NASDAQ: FANG). Under the terms of the merger agreement, the Company's unitholders will receive 0.113 units of Diamondback for each unit of Rattler common unit owned, representing implied per-share merger consideration of approximately $15.08 based upon Diamondback's May 13, 2022 closing price of $133.43. 

If you own Rattler units and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:

https://www.weisslaw.co/news-and-cases/rtlr 
Or please contact:
Joshua Rubin, Esq.
Weiss Law
305 Broadway, 7^th Floor
New York, NY 10007
(212) 682-3025
(888) 593-4771
stockinfo@weisslawllp.com

Weiss Law is investigating whether (i) Rattler's board of directors acted in the best interests of Company unitholders in agreeing to the proposed transaction, (ii) the per-unit merger consideration adequately compensates Rattler's unitholders, and (iii) all information regarding the sales process and valuation of the transaction will be fully and fairly disclosed.

Weiss Law 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 Weiss Law

FAQ

What is Weiss Law investigating regarding Rattler Midstream LP?

Weiss Law is investigating possible breaches of fiduciary duty by Rattler's board of directors in connection with the proposed merger with Diamondback Energy.

What does the merger agreement between Rattler and Diamondback entail?

Under the merger agreement, Rattler unitholders will receive 0.113 units of Diamondback for each Rattler unit owned, with an implied value of approximately $15.08.

What concerns does the investigation by Weiss Law raise for Rattler unitholders?

The investigation raises concerns about whether Rattler's board acted in the best interests of unitholders and if the proposed compensation is adequate.

What is the stock symbol for Rattler Midstream LP and Diamondback Energy?

The stock symbol for Rattler Midstream LP is RTLR, and for Diamondback Energy, it is FANG.