The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of QR Energy, LP (“QR Energy” or the “Company”) (NYSE: QRE) relating to the proposed buyout of the Company by Breitburn Energy LP (“Breitburn”).
On July 24, 2014, QR Energy and Breitburn announced the signing of a definitive merger agreement pursuant to which Breitburn will acquire QR Energy. Under the terms of the transaction, QR Energy shareholders are anticipated to receive 0.9856 shares of Breitburn common stock, or $22.48 based on Breitburn’s closing price on July 23, 2014 for each share of QR Energy common stock they own.
The firm’s investigation seeks to determine, among other things, whether the Company’s Board of Directors breached their fiduciary duties by failing to maximize shareholder value before agreeing to enter into the transaction, and whether Breitburn is underpaying for QR Energy shares.
If you currently own common stock of QR Energy and would like to learn more about the investigation being conducted by Brower Piven, without cost or obligation to you, please visit our website at http://www.browerpiven.com/currentinvestigations.html. You may also request more information by contacting Brower Piven either by email at firstname.lastname@example.org or by telephone at (410) 415-6616.Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s.
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