SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of LRR Energy, L.P. And Encourages Investor...
24 Abril 2015 - 2:47PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of LRR Energy, L.P. (“LRR” or the
“Company”) (NYSE: LRE) relating to the proposed buyout of the
Company by Vanguard Natural Resources, LLC.
Under the terms of the transaction, LRR shareholders are
anticipated to receive 0.55 of a unit of Vanguard for each unit of
LRR owned. Based on Vanguard’s closing price on April 20, 2015, LRR
unitholders would have received compensation valued at
approximately $8.93 per unit. The transaction may undervalue LRR
and may result in a substantial loss for many shareholders. For
example, according to Yahoo! Finance, at least one Wall Street
analyst has issued a price target for LRR stock at $16.00 per
unit.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of LRR and would like to learn
more about the investigation being conducted by Brower Piven,
without cost or obligation to you, please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
(NYSE:LRE)
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