NEW YORK, Nov 12, 2010 (BUSINESS WIRE) -- The Law Office of Abe Shainberg is investigating the Board of Directors of Atlas Energy, Inc. (NasdaqGS: ATLS) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Chevron Corporation ("Chevron") (NYSE: CVX). Under the terms of the transaction, Atlas Energy shareholders will receive consideration valued at $43.34 per share for a total transaction value of approximately $4.3 billion. The consideration is to consist of $38.25 in cash and a pro-rata share of a distribution of over 41 million units of Atlas Pipeline Holdings, L.P. (NYSE: AHD) valued at $5.09 per Atlas Energy shares, based on the prior closing price of AHD stock.
The investigation concerns whether the Atlas Energy Board of Directors breached their fiduciary duties to Atlas Energy stockholders by failing to adequately shop the Company before entering into this transaction and whether Chevron is underpaying for Atlas Energy shares, thus unlawfully harming Atlas Energy stockholders. Analysts set a mean target price for Atlas Energy stock at $45.33 per share and at least one analyst set a price target at $64.00 per share.
If you own common stock in Atlas Energy and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at email@example.com or by telephone at (212) 425-7286, or visit http://www.ashainberglaw.com/atlas-energy-atls.html.
Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide.
SOURCE: The Law Office of Abe Shainberg CONTACT: The Law Office of Abe Shainberg Abe Shainberg, Esq. Tel: (212) 425-7286 Fax: (866) 699-3880 Email: firstname.lastname@example.org Copyright Business Wire 2010 -0- KEYWORD: United States
New York INDUSTRY KEYWORD: Professional Services
Legal SUBJECT CODE: Lawsuit