The firm says ChampionX sellers from February 29, 2024 to April 1, 2024 may seek lead-plaintiff status over allegations tied to undisclosed SLB takeover offers and share repurchases.
Robbins LLP said investors who sold ChampionX Corporation common stock between February 29, 2024 and April 1, 2024 may be eligible to participate in a securities class action, with any shareholder seeking appointment as lead plaintiff required to file with the court by July 14, 2026. The complaint alleges ChampionX repurchased 216,000 shares during that period without disclosing material nonpublic information about Schlumberger Limited's, or SLB's, offers to acquire the company at a premium to then-current market prices. The filing contends that once investors learned SLB was willing to buy all outstanding shares at a significant premium, ChampionX stock rose sharply, harming investors who had sold earlier. Robbins LLP said investors can remain absent class members without seeking a lead role and that its representation is on a contingency-fee basis.