Rigrodsky & Long, P.A. announces that it is investigating potential claims against Penn Virginia GP Holdings, L.P. (“PVG” or the “Company”) (NYSE: PVG) concerning possible breaches of fiduciary duty and other violations of law related to the Company’s entry into an agreement to be acquired by Penn Virginia Resource Partners, L.P. (“PVR”) (NYSE: PVR). Click here to learn how to join the action: http://www.rigrodskylong.com/news/PennVirginiaGPHoldingsLP-PVG.
Under the proposed agreement, PVG unitholders will receive 0.98 PVR limited partnership units in exchange for each PVG limited partnership unit they own. The transaction will result in PVR owning its general partner, the cancellation of PVG’s incentive distribution rights, result in approximately 38.3 million additional limited partnership units being issued by PVR and the cancellation of approximately 19.6 million PVR limited partnership units owned by PVG.
The investigation concerns whether PVG failed to adequately shop the Company and obtain the best price possible for PVG’s unitholders before entering into the agreement with PVR.
If you own the limited partner units of PVG and purchased your units before September 21, 2010, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case Development Director, of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to firstname.lastname@example.org.Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.