Bernstein Liebhard LLP Announces Investigation Of Acquisition Of Penn Virginia GP Holdings LP By Penn Virginia Resource Partners LP
Bernstein Liebhard LLP is investigating whether the Board of Directors of Penn Virginia GP Holdings LP (“Penn Virginia GP” or the “Company”) (NYSE: PVG) breached its fiduciary duty to its shareholders in agreeing to sell the Company to Penn Virginia Resource Partners LP (“Penn Virginia Resource”) (NYSE: PVR).
Under the terms of the agreement, Penn Virginia GP shareholders will receive 0.98 units of Penn Virginia Resource units for each share of common stock they own, for a price of approximately $24.43 per share, placing the total value of the transaction at approximately $954.5 million. The investigation is focused on the potential unfairness of the price to Penn Virginia GP shareholders and the process by which the Penn Virginia GP Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a Penn Virginia GP shareholder and/or have information relating to the matter, please contact Dan Fried at (877) 779-1414 or Fried@bernlieb.com.
Bernstein Liebhard has pursued hundreds of securities, consumer and shareholder rights cases and recovered almost $3 billion for its clients. It has been named to The National Law Journal’s “Plaintiffs’ Hot List” in each of the last seven years.Bernstein Liebhard LLP10 East 40th StreetNew York, New York 10016(877) 779-1414 www.bernlieb.com ATTORNEY ADVERTISING. © 2010 Bernstein Liebhard LLP. The law firm responsible for this advertisement is Bernstein Liebhard LLP, 10 East 40th Street, New York, New York 10016, (212) 779-1414. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
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