The lawsuit contends that ChampionX kept shareholders in the dark regarding unsolicited acquisition offers from Schlumberger Limited. While the firm allegedly negotiated potential buyouts—first at $36.70 and later at $37.80 per share—it simultaneously bought back its own stock at market prices that averaged $33.32. Plaintiffs argue this conduct artificially deflated share prices, depriving sellers of the value realized when the merger was publicly disclosed on April 2, 2024.
Investors Eye Lead Role in ChampionX Securities Fraud Litigation
Investors who sold ChampionX Corporation common stock between February 29 and April 1, 2024, face a July 14, 2026, deadline to seek lead plaintiff status. Rosen Law Firm is spearheading the class action, which centers on allegations that the company failed to disclose acquisition interest while repurchasing its own shares.
Schlumberger eventually acquired ChampionX in July 2025 for $40.58 per share. Those who sold during the window preceding the merger announcement may be eligible for compensation under a contingency fee arrangement. While a class action has been filed, no class has yet been certified. Investors interested in serving as lead plaintiff must petition the court before the July 14 deadline, though they may also choose to participate as absent class members without taking formal action.
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