NEW YORK, Oct. 26, 2015 /PRNewswire/ -- Pomerantz LLP
is investigating claims on behalf of investors of Piedmont Natural
Gas Co. Inc. ("Piedmont" or the
"Company") (NYSE: PNY) (ISIN: US7201861058) (CUSIP: 720186105)
concerning the proposed acquisition of Piedmont by Duke Energy Corporation.
Piedmont shareholders seeking
more information about this acquisition are advised to contact
Robert Willoughby at
rswilloughby@pomlaw.com or 212-661-1100 or 888-476-6529, ext.
9980.
The investigation concerns whether the Piedmont directors are breaching their
fiduciary duties by failing to adequately shop the Company and
maximize shareholder value. Under the terms of the proposed
transaction, Piedmont shareholders
will receive $60.00 per share in cash
for each share of Piedmont common
stock. However, there are indications that management may
stay on. Moreover, the EBITDA, and EBIT multiples are below
the averages of comparable transactions, according to a
Bloomberg analysis.
Pomerantz LLP, with offices in New
York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz LLP pioneered the field of securities class actions.
Today, more than 75 years later, the Pomerantz LLP continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate
misconduct. The Firm has recovered numerous multimillion-dollar
damages awards on behalf of defrauded investors. See
www.pomerantzlaw.com.
CONTACT:
Robert
Willoughby
Pomerantz LLP
212-661-1100 ext. 9980
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP