Rosen Law Firm, a global investor rights law firm, is reminding sellers of ChampionX Corporation (NASDAQ: CHX) common stock between February 29, 2024 and April 1, 2024 of the July 14, 2026 lead plaintiff deadline. Investors who sold during that period may be eligible for compensation without upfront costs through a contingency fee arrangement. The lawsuit alleges that ChampionX failed to disclose a formal acquisition offer from Schlumberger while repurchasing its own stock at lower prices.
Allegations of Undisclosed Acquisition Offers
The lawsuit claims that during the Class Period, ChampionX received two unsolicited offers from Schlumberger Limited: first at $36.70 per share on February 29, 2024, and then a raised offer of $37.80 per share on March 7, 2024. According to the complaint, ChampionX continued to repurchase its common stock at market prices averaging $33.32 per share, significantly below the Schlumberger offers, without disclosing the offers to the public. The suit alleges that ChampionX had an obligation to either disclose the offers or refrain from buying shares from unsuspecting investors.
Merger Disclosure and Class Action Details
On April 2, 2024, before market open, ChampionX finally disclosed the merger with Schlumberger. The deal closed on July 16, 2025, with Schlumberger acquiring ChampionX for $40.58 per share. The Rosen Law Firm, which has a track record of securities class action settlements including a top ranking by ISS Securities Class Action Services in 2017, is representing investors. To join the class action or seek lead plaintiff status, investors must contact the firm by July 14, 2026. The case has already been filed, but no class has been certified yet.