An investigation on behalf of investors, who currently hold shares of Bonanza Creek Energy, Inc. (NYSE:BCEI), was announced concerning whether the takeover of Bonanza Creek Energy, Inc. by SandRidge Energy is unfair to NYSE:BCEI stockholders.

The investigation by a law firm concerns whether certain officers and directors of Bonanza Creek Energy, Inc. breached their fiduciary duties owed to NYSE:BCEI investors in connection with the proposed acquisition.

On November 15, 2017, SandRidge Energy (NYSE: SD) and Bonanza Creek Energy, Inc. (NYSE:BCEI) jointly announced that the two companies have entered into a merger agreement under which SandRidge Energy will acquire all of the outstanding shares of common stock of Bonanza Creek Energy, Inc. (NYSE:BCEI)in a cash-and-stock transaction valued at $36.00 per share.

However, given that NYSE:BCEI shares traded as recently as May 2017 as high as $39.20 per share, the investigation concerns whether the offer is unfair to NYSE:BCEI stockholders. More specifically, the investigation concerns whether the Bonanza Creek Energy Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.