This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Block & Leviton LLP Investigates Copano Energy LLC, For Possible Breaches Of Fiduciary Duty In Connection With Its Acquisition By Kinder Morgan Energy Partners, LP

BOSTON, Jan. 30, 2013 /PRNewswire/ -- Block & Leviton LLP (, a Boston-based law firm representing investors nationwide, has commenced an investigation into possible breaches of fiduciary duty by the Board of Directors of Copano Energy LLC (" Copano" or the "Company") (NASDAQ:  CPNO) concerning the proposed acquisition of the Company by Kinder Morgan Energy Partners, LP ("KMP") in a stock swap transaction.

Under the terms of the proposed merger, KMP will acquire Copano in a deal for approximately $40.91 per Copano share, with a total deal value of approximately $3.23 billion.   The offer price is below the target price of at least one analyst.   The Company's largest shareholder, TPG Capital LP, who owns approximately 14% of the Company, stands to profit 41% on their investment and unsurprisingly has agreed to support the transaction.   Ordinary shareholders stand to collect only a paltry 23% premium on the previous day's closing price.   The Company's share price has increased 25% since just July 2012, and the stock was rapidly approaching the level of its 52 week high.   At its 52 week high of $38.03, the premium is a mere 7%.  As such, it appears that the proposed transaction premium offers insufficient recognition of Copano's growth potential and represents an insufficient premium to shareholders.  

Block & Leviton's investigation seeks to determine, among other things, whether Copano's Directors breached their fiduciary duties by failing to maximize shareholder value in the proposed acquisition by KMP and the overall fairness of the process by which the Copano Directors considered and approved the transaction.

If you are a Copano shareholder and have questions about your legal rights, or if you have information relevant to this investigation, please contact attorney Steven P. Harte, at (617) 398-5600 or email him at    

Block & Leviton is a Boston-based law firm representing investors nationwide for violations of securities laws.   The firm's lawyers have collectively been prosecuting securities cases on behalf of investors for over 50 years.   This notice may constitute attorney advertising.

Contact: BLOCK & LEVITON LLP Steven P. Harte, Esq. (617) 398-5600

SOURCE Block & Leviton LLP

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs