NEW YORK, Oct. 21, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky notifies investors of PVR Partners LP ("PVR Partners" or the "Company") (NYSE:PVR) of claims of breaches of fiduciary duty and other violations of state law against the board of directors of the Company in connection with the sale of the Company to Regency Energy Partners LP ("Regency") (NYSE:RGP). A complaint was filed in Delaware state court.
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Under the terms of the transaction, PVR Partners unitholders will receive 1.02 common units of Regency for each unit of PVR Partners stock they own and a one-time cash payment of approximately $40 million. Based upon Regency's closing price on October 9, 2013, the deal represents a value of approximately $28.68 per PVR Partners unit. The claims concern whether the PVR Partners Board of Directors breached their fiduciary duties to stockholders by failing to adequately shop the Company before agreeing to enter into this transaction, and whether Regency is underpaying for PVR Partners shares.
If you own PVR Partners common stock and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/pvr-partners-pvr.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP