Plaintiffs File Class Action Over ChampionX Buybacks That Allegedly Hid Schlumberger Offers

Overview

• Multiple plaintiff firms published notice Wednesday and are seeking sellers who sold ChampionX stock between February and April 2024 to join a securities class action or seek lead-plaintiff status by the July 14, 2026 deadline.
• The complaint alleges ChampionX repurchased about 216,000 shares during the February 29 to April 1, 2024 window without telling the market about Schlumberger’s alleged private offers of $36.70 per share and $37.80 per share.
• ChampionX publicly disclosed the Schlumberger deal in early April 2024 and the merger later closed in July 2025 at $40.58 per share, facts plaintiffs cite to quantify the gap between repurchase prices and the ultimate sale price.
• Plaintiffs say U.S. securities rules required ChampionX to disclose the acquisition offers or refrain from repurchasing shares, and they argue the undisclosed bids deprived sellers of knowing the stock’s true value and support claims for investor damages.
• No class has been certified and outcomes remain unresolved, but competing plaintiff firms are already jockeying for leadership which could shape settlement talks, litigation strategy, and the speed of any recovery for affected shareholders.