NEW YORK, Dec. 18, 2013 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of Pennsylvania on behalf of all persons who purchased securities of PVR Partners LP ("PVR" or the "Company") (NYSE:PVR) on October 9, 2013, in connection with the proposed takeover of PVR by Regency Energy Partners LP ("Regency") (the "Proposed Takeover").
The Complaint alleges that the Board of Directors of PVR's general partner, PVR GP LLC ("PVR GP") (the "Board"), Regency and its affiliates breached their duties, and/or aided and abetted such breaches, in connection with their attempt to consummate the Proposed Takeover pursuant to an unfair process and for an unfair price. In addition, the Complaint alleges that PVR and the Board disseminated a false and misleading Registration Statement on Form S-4 (the "S-4") in violation of Sections 14(a) and 20(a) of the Exchange Act and Rule 14a-9 promulgated thereunder in connection with the Proposed Takeover.
On October 9, 2013, PVR and Regency entered into a definitive agreement (the "Merger Agreement") whereby Regency would acquire all of PVR's outstanding units. Thereafter, on November 8, 2013, Defendants caused the S-4 to be filed with the SEC and disseminated in connection with the upcoming unitholder vote on the Proposed Takeover. The Complaint alleges that the S-4 contains a number of false and misleading statements that are material to unitholders who are expected to rely upon the S-4 to determine whether to approve the Proposed Takeover. The S-4 omits a number of material facts necessary to make statements made therein not false and misleading, including the events leading to the Merger Agreement, the analyses conducted by the Board's financial advisor, and PVR's prospective financial information.
If you wish to serve as lead plaintiff, you must move the Court no later than February 14, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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Source:Gainey McKenna& Egleston