On September 17, 2025, Halper Sadeh LLC, an investor rights law firm, announced an investigation into whether the proposed sale of Berry Corporation to California Resources Corporation is fair to Berry shareholders. The investigation focuses on the consideration of 0.0718 shares of California Resources common stock for each Berry common stock.
The law firm is examining whether Berry and its board of directors violated federal securities laws or breached their fiduciary duties by potentially failing to obtain the best possible consideration for shareholders. They are also assessing whether California Resources is underpaying for Berry and if all material information necessary for shareholders to evaluate the merger was disclosed.
Halper Sadeh LLC indicated that it may seek increased consideration for shareholders, additional disclosures, or other relief and benefits on behalf of Berry shareholders. This investigation introduces a potential legal challenge to the announced all-stock combination.
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