NEW YORK, Aug. 4, 2021 /PRNewswire/ — WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of HollyFrontier Corporation («HollyFrontier» or the «Company») (NYSE: HFC) in connection with the Company’s proposed merger with Sinclair Oil Corporation and Sinclair Transportation Company («Sinclair»). Under the terms of the agreement, HollyFrontier will form a new parent company, named «HF Sinclair Corporation» («HF Sinclair»), which will replace HollyFrontier as the public company trading on the NYSE. At the closing, existing shares of HollyFrontier will automatically convert on a one-for-one basis into shares of common stock of HF Sinclair, and HF Sinclair will issue approximately 60.2 million shares of common stock to Sinclair. The transaction is valued at approximately $1.8 billion.
If you own HollyFrontier shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw LLP is investigating whether HollyFrontier’s board acted in the best interest of HollyFrontier’s public shareholders in agreeing to the proposed transaction, whether the board was fully informed as to the valuation of Sinclair, and whether all information regarding the process undertaken by the board and the valuation of the transaction will be fully and fairly disclosed to HollyFrontier’s public shareholders.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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SOURCE WeissLaw LLP