NEW YORK, Oct. 22, 2013 /PRNewswire/ -- Bernstein Liebhard LLP is investigating whether the Board of Directors of PAA Natural Gas Storage, L.P. ("PNG" or the "Company") (NYSE: PNG) breached its fiduciary duty to its unitholders in agreeing to sell PNG to Plains All American Pipeline, L.P. ("PAA").
Under the terms of the agreement, PNG's public unitholders will receive 0.445 common units of PAA per PNG common unit surrendered, plus cash in lieu of any fractional common units of PAA. The investigation is focused on the potential unfairness of the price to PNG shareholders and the process by which the PNG Board of Directors considered and approved the transaction.
If you are interested in discussing your rights as a PNG stockholder, with no obligation or cost to you, please contact U. Seth Ottensoser at:(877) 779-1414or Ottensoser@bernlieb.com. Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. It has been named to The National Law Journal's "Plaintiffs' Hot List" in each of the last eleven years. Bernstein Liebhard LLP10 East 40th Street New York, New York 10016(877) 779-1414 www.bernlieb.com ATTORNEY ADVERTISING. © 2013 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. The lawyer responsible for this advertisement in the State of Connecticut is Michael S. Bigin. Prior results do not guarantee or predict a similar outcome with respect to any future matter. SOURCE Bernstein Liebhard LLP