San Diego, CA -- (SBWIRE) -- 12/02/2015 -- An investigation for shareholders in NYSE:PNY shares was announced concerning the takeover of Piedmont Natural Gas Company, Inc. by Duke Energy for $60 per share.

Investors who purchased shares of Piedmont Natural Gas Company, Inc. (NYSE:PNY) and currently hold any of those NYSE:PNY shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The investigation by a law firm concerns whether certain officers and directors of Piedmont Natural Gas Company, Inc. breached their fiduciary duties owed to NYSE:PNY investors in connection with the proposed acquisition.

On October 26, 2015, Duke Energy and Piedmont Natural Gas Company, Inc. (NYSE:PNY) announced the boards of directors of both companies have approved an agreement for Duke Energy to acquire Piedmont Natural Gas Company, Inc. for approximately $4.9 billion in cash. Upon transaction closing, Piedmont Natural Gas Company, Inc. (NYSE:PNY) shareholders will receive $60 in cash for each share of Piedmont Natural Gas common stock.

However, the investigation concerns whether the offer is unfair to NYSE:PNY stockholders. More specifically, the investigation concerns whether the Piedmont Natural Gas Company 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.

On December 1, 2015, NYSE:PNY shares closed at $58.34 per share.

Those who are current investors in Piedmont Natural Gas Company, Inc. shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com