Recent Securities Litigations
KLX Energy Services Holdings Inc. Common Stock (NASDAQ: KLXE)
According to the Complaint, KLX Energy Services Holdings, Inc. is a leading U.S. onshore provider of mission critical oilfield services focused on completion, intervention, and production activities for the most technically demanding wells.
On May 3, 2020, KLX Energy Services Holdings, Inc.’s Board of Directors caused KLX to enter into an agreement and plan of merger with Quintana Energy Services Inc.
On June 2, 2020, Defendants filed a Form S-4 Registration Statement with the United States Securities and Exchange Commission, which recommends that KLX’s stockholders vote to approve, among other things, the issuance of KLX shares in connection with the Proposed Transaction.
The Complaint alleges that the Registration Statement omits material information with respect to the Proposed Transaction, which renders the Registration Statement false and misleading.