Hess (HES) Faces Legal Hurdles Over Chevron Deal Disclosures [Yahoo! Finance]
Chevron Corporation (CVX)
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Source: Yahoo! Finance
to Chevron Corporation CVX.Hessrecently revealed in an 8-K filing that despite considering the allegations baseless, the company is taking steps to address the claims by voluntarily supplementing its proxy statement. This move is intended to preemptively address the plaintiffs' concerns and prevent any potential delays, expenses, or nuisance litigation. Background of the Chevron Deal In October 2023, Chevron proposed a $53 billion acquisition of Hess. The strategic move was aimed at strengthening Chevron's presence in Guyana's oil-rich offshore fields. However, the deal has encountered significant obstacles, including the need for regulatory approval from the Federal Trade Commission. The resolution of these issues is crucial for the progression of the acquisition. Class Action in Delaware Court of Chancery One of the three lawsuits, a class action complaint, has been filed in the Delaware Court of Chancery. This suit accuses the Hess board of breaching its fiduciary duties by
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News
- Chevron Corporation's (NYSE:CVX) Fundamentals Look Pretty Strong: Could The Market Be Wrong About The Stock? [Yahoo! Finance]Yahoo! Finance
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- Eight protesters arrested at Congressional Baseball Game [MSNBC.com]MSNBC.com
- Chevron (CVX) Suspends Wheatstone LNG Project for Repairs [Yahoo! Finance]Yahoo! Finance
- Is Chevron Corporation (NYSE:CVX) a Leading Natural Gas and Oil Dividend Stock? [Yahoo! Finance]Yahoo! Finance
CVX
Earnings
- 4/26/24 - Beat
CVX
Sec Filings
- 5/31/24 - Form 8-K
- 5/30/24 - Form 4
- 5/30/24 - Form 4
- CVX's page on the SEC website