SHAREHOLDER NOTICE: Brodsky & Smith Announces an Investigation of Ranger Oil Corporation (Nasdaq – ROCC)

BALA CYNWYD – February 28, 2023 /Newsfile/ – Law office of Brodsky & Smith announces that it is investigating potential claims against the Board of Directors of Ranger Oil Corporation (“Ranger Oil” or the “Company”) (Nasdaq – ROCC) for possible breaches of fiduciary duty and other violations of federal and state law in connection with the Company’s agreement to be acquired by Baytex Energy Corp. (“Baytex”) (NYSE – BTE). Under the terms of the Agreement,  Ranger shareholders will receive 7.49 Baytex shares plus US$13.31 cash, for each Ranger Oil common share, for total consideration of approximately US$44.36 per share. The total consideration to be paid by Baytex, including assumption of net debt, is approximately US$2.5 billion.

The investigation concerns whether the Ranger Oil Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether Baytex is paying too little for the Company. For example, the deal consideration is below the 52-wek high of US$53.59 for the Company’s shares.

If you own shares of Ranger Oil stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, Two Bala Plaza, Suite 805, Bala Cynwyd, PA 19004, or call toll free 855-576-4847.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.