Juan E. Monteverde, a partner at Faruqi & Faruqi, LLP, a leading national securities firm headquartered in New York City, is investigating the Board of Directors of QR Energy, LP (“QR Energy” or the “Company”) (NYSE:QRE) for potential breaches of fiduciary duties in connection with the sale of the Company to Breitburn Energy Partners (“Breitburn”) (NasdaqGS:BBEP) for approximately $1.6 billion. The Company’s stockholders will only receive 0.9856 shares of Breitburn common stock, or $22.48 based on Breitburn’s closing price on Wednesday, for each share of QR Energy common stock they own.
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The investigation focuses on whether QR Energy’s Board of Directors breached their fiduciary duties to the Company’s stockholders by failing to conduct a fair sales process and whether and by how much this proposed transaction undervalues the Company to the detriment of QR Energy’s shareholders.
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