Law Offices Of Howard G. Smith Announces Investigation On Behalf Of Unitholders Of Penn Virginia Holdings, L.P. In Connection With The Proposed Acquisition Of The Company By Penn Virginia Resource Partners, L.P.
Law Offices of Howard G. Smith announces that it is investigating potential claims against the board of directors of Penn Virginia Holdings, L.P. (“PVG” or the “Company”) (NYSE:PVG) related to the Company’s definitive agreement to be acquired by Penn Virginia Resource Partners, L.P. (“PVR”). The proposed transaction is valued at approximately $954 million.
Under the terms of the merger agreement entered into by the parties, PVG unitholders would receive 0.98 PVR limited partnership units in exchange for each PVG limited partnership unit owned at closing. If the merger transaction is completed, it would result in PVR owning its general partner, the cancellation of PVG’s incentive distribution rights, and the cancellation of the PVR limited partnership units owned by PVG. The investigation concerns possible breaches of fiduciary duty and other violations of law related to approval of the proposed transaction by PVG’s board of directors.
If you are a unitholder of PVG, 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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