Robbins LLP is Investigating Allegations that ChampionX Corporation (CHX) Repurchased Shares of its Stock in Violation of Securities Laws

Robbins LLP informs investors that a class action was filed on behalf of all sellers of ChampionX Corporation (NASDAQ: CHX) common stock between February 29, 2024 and April 1, 2024. ChampionX is a global provider of chemistry solutions, artificial lift systems, and highly engineered equipment and technologies for the drilling and production of oil and gas.

The allegations:

According to the complaint, during the class period, defendants repurchased  216,000 shares of ChampionX stock – worth millions of dollars – from unsuspecting investors  without disclosing material nonpublic information about SLB’s offers to purchase ChampionX at a premium to then-current prices. If this information had been disclosed as required it would have indicated to investors that ChampionX’s stock was worth significantly more.

Plaintiff alleges that when investors learned the truth that SLB was willing to buy all of the Company's outstanding stock for a significant premium above the trading price, ChampionX's stock price climbed sharply, harming investors who sold during the class period.

What now: You may be eligible to participate in the class action against ChampionX Corporation. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.