ChampionX Investors Face July Deadline in Securities Fraud Lawsuit

The lawsuit, filed by the Rosen Law Firm, contends that ChampionX artificially deflated its stock price by withholding information regarding unsolicited acquisition bids from Schlumberger Limited. Records indicate that while the company was engaged in a share repurchase program at lower market prices, it had already received an initial offer of $36.70 per share on February 29, 2024, followed by an increased bid of $37.80 on March 7, 2024. During this window, the company's average trading price sat at $33.32.

Plaintiffs argue that ChampionX had a legal obligation to either disclose the buyout interest or cease repurchasing stock from shareholders unaware of the potential premium. The merger with Schlumberger was eventually announced on April 2, 2024, and concluded in July 2025 at a final price of $40.58 per share. Investors seeking to participate in the class action or serve as lead plaintiff must contact legal counsel before the court-mandated cutoff. No class has been certified yet, meaning investors remain responsible for their own representation until such a designation occurs.