Andrews & Springer LLC filed a stockholder derivative complaint on behalf of nominal defendant, WildHorse Resource Development Corporation (“WildHorse" or the "Company") in connection with its conflicted and self-serving preferred stock offering to The Carlyle Group, L.P. ("Carlyle").

The complaint alleges that WildHorse's board of directors (the "Board") along with Natural Gas Partners ("NGP"), the Company's controlling stockholder, breached thier fiduciary duties to the Company. Specifically, the complaint alleges that the Board breached its fiduciary duties by forcing the Company to issue convertible preferred stock to Carlyle, the financial backer, strategic partner and largest investor in NGP, on highly unfavorable terms to WildHorse.

Please click here for a copy of the Complaint that was filed on August 2, 2018.