Law Office of Abe Shainberg Announces Investigation of the Board of Inergy Holdings ... - PRLog (free press release)
Posted: 10 Aug 2010 06:57 AM PDT
PRLog (Press Release) – Aug 10, 2010 – The Law Office of Abe Shainberg is investigating the Board of Directors of Inergy Holdings L.P. ("NRGP") (NYSE: NRGP) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Inergy L.P. ("NRGY") (NYSE: NRGY). Under the terms of the deal, NRGP unitholders will receive 0.77 common units of NRGY for each NRGP common unit they own. Based on the prior closing price of NRGY units, the transaction values NRGP units at approximately $33.39 per share for a total transaction value of approximately $2.1 billion.
The investigation concerns whether the NRGP Board of Directors breached their fiduciary duties to NRGP unitholders by failing to adequately shop the Company before entering into this transaction and whether NRGY is underpaying for NRGP units. The offer price is a nominal premium over the $32.16 price the NRGP units traded at on August 6, 2010 and at least one analyst placed a $35.00 price target on NRGP units.
If you own common stock in NRGP and wish to obtain additional information, please contact Abe Shainberg, Esq. directly, via email at as@ashainberglaw.com, by telephone at 212.425.7268, or visit http://www.ashainberglaw.com/ inergy-holdings.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.
CONTACT:
Abe Shainberg, Esq.
132 East 43rd Street, Suite 512
New York, NY 10017
Tel: (212) 425-7286
Fax: (866) 699.3886
Email: as@ashainberglaw.com
