An investigation on behalf of investors of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) in connection with the proposed takeover was announced and NASDAQ:EROC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/30/2013 -- An investigation on behalf of investors, who currently hold shares of Eagle Rock Energy Partners, L.P. (NASDAQ:EROC) shares, was announced concerning whether the takeover of Eagle Rock Energy Partners, L.P. by Regency Energy Partners LP. is unfair to NASDAQ:EROC stockholders.
Investors who purchased shares of Eagle Rock Energy Partners, L.P. and currently hold any of those NASDAQ:EROC shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Eagle Rock Energy Partners, L.P. breached their fiduciary duties owed to NASDAQ:EROC investors in connection with the proposed acquisition.
On December 23, 2013, Eagle Rock Energy Partners, L.P. announced that it has entered into an agreement to contribute its midstream business to Regency Energy Partners LP (NYSE:RGP) for total consideration of up to $1.325 billion.
However, the investigation concerns whether the offer is unfair to NASDAQ:EROC stockholders. More specifically, the investigation concerns whether the Eagle Rock Energy Partners Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
At least one analyst set the high target price for NASDAQ:EROC shares at $7.50 per share and that Eagle Rock Energy Partners, L.P. units traded as recently as April 2013 as high as $10.38 per share,
On December 27, 2013, NASDAQ:EROC units closed at $5.99 per share.
Those who are current investors in Eagle Rock Energy Partners, L.P. shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com