Alta Mesa Resources, Inc. f/k/a Silver Run Acquisition Corporation II
ROBBINS GELLER RUDMAN & DOWD LLP FILES CLASS ACTION SUIT AGAINST ALTA MESA RESOURCES, INC. F/K/A SILVER RUN ACQUISITION CORPORATION II
New York – January 30, 2019 – Robbins Geller Rudman & Dowd LLP (http://www.rgrdlaw.com/cases/altamesa/) today announced that a class action has been commenced on behalf of all holders of record of Alta Mesa Resources, Inc. f/k/a Silver Run Acquisition Corporation II (“Silver Run II”) (NASDAQ:AMR) Class A common stock as of January 22, 2018, the record date to vote on the acquisition of Alta Mesa Holdings, LP (“Alta Mesa”) and Kingfisher Midstream LLC (“Kingfisher”) by Silver Run II (the “Acquisition”). This action was filed in the Southern District of New York and is captioned Plumbers and Pipefitters National Pension Fund v. Alta Mesa Resources, Inc. f/k/a Silver Run Acquisition Corporation II, et al., No. 19-cv-00920.
The Private Securities Litigation Reform Act of 1995 permits any investor who held Silver Run II Class A common stock on January 22, 2018, the record date to vote on the Acquisition, to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Brian E. Cochran of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. You can view a copy of the complaint as filed at http://www.rgrdlaw.com/cases/altamesa/.
The complaint charges Silver Run II, its Board of Directors and its private equity sponsor, Riverstone Investment Group LLC (“Riverstone”), with violations of the Securities Exchange Act of 1934 (“Exchange Act”). Silver Run II is an oil and natural gas company focused on the acquisition, development, exploration and exploitation of unconventional onshore oil and natural gas reserves in the eastern portion of the Anadarko Basin in Oklahoma.
The complaint alleges that in early 2018, Silver Run II issued a materially false and misleading Definitive Merger Proxy Statement on Schedule M14A (the “Proxy”) that recommended shareholders vote in favor of the Acquisition in contravention of §§14(a) and 20(a) of the Exchange Act and SEC Rule 14a-9. As a result of the false and misleading Proxy, Silver Run II shareholders were prevented from making an informed decision on whether or not to redeem their shares and voted in favor of the Acquisition on February 6, 2018. The redeemable Class A common shares were valued at approximately $10 per share at the time of the Acquisition. The complaint alleges that subsequent to and due to the approval of the Acquisition, the value of Silver Run II Class A common shares has significantly declined.
Plaintiff seeks to recover damages on behalf of all holders of record of Silver Run II Class A common stock as of January 22, 2018, the record date to vote on the Acquisition (the “Class”). The plaintiff is represented by Robbins Geller, which has extensive experience in prosecuting investor class actions including actions involving financial fraud.
Robbins Geller is one of the world’s leading law firms representing investors in securities litigation. With 200 lawyers in 10 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For five consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Please visit http://www.rgrdlaw.com for more information.
Robbins Geller Rudman & Dowd LLP
Brian E. Cochran, 800-449-4900