SHAREHOLDER ALERT: Brower Piven Announces The Investigation Of QR Energy, LP In Connection With The Proposed Sale Of The Comp...
July 28 2014 - 12:16PM
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 QR Energy, LP (“QR Energy” or the
“Company”) (NYSE: QRE) relating to the proposed buyout of the
Company by Breitburn Energy LP (“Breitburn”).
On July 24, 2014, QR Energy and Breitburn announced the signing
of a definitive merger agreement pursuant to which Breitburn will
acquire QR Energy. Under the terms of the transaction, QR Energy
shareholders are anticipated to receive 0.9856 shares of Breitburn
common stock, or $22.48 based on Breitburn’s closing price on July
23, 2014 for each share of QR Energy common stock they own.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors breached their fiduciary
duties by failing to maximize shareholder value before agreeing to
enter into the transaction, and whether Breitburn is underpaying
for QR Energy shares.
If you currently own common stock of QR Energy 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