NEW YORK, Jan. 30, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Copano Energy LLC ("Copano Energy" or the "Company") (NASDAQ: CPNO) (ISIN: US2172021006) (CUSIP: 217202100) concerning the proposed acquisition of Copano Energy by Kinder Morgan Energy Partners, L.P. in a transaction valued at approximately $5 Billion in a Unit for Unit transaction. The investigation concerns whether the Copano Energy directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Copano Energy shareholders will be entitled to receive a 100 percent unit for unit transaction with an exchange ratio of .4563 Kinder Morgan units per Copano unit. However, the price to book value multiple is below comparable transactions' average. Moreover, at least one analyst has set a target price of $41 per share. Copano Energy shareholders seeking more information about this acquisition are advised to contact Robert Willoughby at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 237. The firm is also investigating actions on behalf of shareholders for the following companies: Arbitron Inc., Net1 Ueps Technologies, Inc., Universal Technical Institute, and Clearwire Corporation, Ameristar Casinos, Inc. K-Swiss, Inc., Neptune Technologies Bioressources, Inc., Telanetix, Inc., Somerset Hills Bancorp, and BioClinica Inc. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com. SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Copano Energy (Nasdaq:CPNO) hit a new 52-week high Wednesday as it is currently trading at $41.52, above its previous 52-week high of $41.41 with 16,138 shares traded as of 9:35 a.m. ET. Average volume has been 926,100 shares over the past 30 days.