STEVENSON, Md., May 28, 2015 /PRNewswire/ -- 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
Eagle Rock Energy Partners, L.P. ("Eagle Rock" or the "Company")
(NasdaqGS: EROC) relating to the proposed buyout of the Company by
Vanguard Natural Resources for approximately $474 million.
Under the terms of the transaction, Eagle Rock shareholders are
anticipated to receive 0.185 units of Vanguard for each unit of
Eagle Rock they own, the value of which is equivalent to
$3.05 per Eagle Rock share. The
transaction may undervalue Eagle Rock and may result in a
substantial loss for many shareholders as Eagle Rock has traded as
high as $5.25 over the past calendar
year. 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 Eagle Rock and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
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.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616 / hoffman@browerpiven.com
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SOURCE Brower Piven, A Professional Corporation