San Diego, CA -- (SBWIRE) -- 08/27/2013 -- A lawsuit was filed by an investor who currently holds shares of Pioneer Southwest Energy Partners L.P. (NYSE:PSE) in effort to halt the proposed takeover of Pioneer Southwest Energy Partners L.P. by Pioneer Natural Resources Company.

Investors who purchased units of Pioneer Southwest Energy Partners L.P. (NYSE:PSE) prior to May 7, 2013, and currently hold any of those NYSE:PSE units have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NYSE:PSE investors in connection with the proposed acquisition.

On August 12, 2013, Pioneer Natural Resources Company (NYSE: PXD) and Pioneer Southwest Energy Partners L.P. (NYSE:PSE) announced the execution of an agreement and plan of merger that would result in a merger whereby Pioneer Southwest Energy Partners L.P. would become a wholly-owned subsidiary of Pioneer Natural Resources Company’s operating company, Pioneer Natural Resources USA, Inc., through a stock-for-unit exchange. Under the terms of the Merger Agreement, Pioneer Southwest Energy Partners’ public unitholders would receive 0.2325 of a share of common stock of Pioneer Natural Resources Company per Pioneer Southwest Energy Partners L.P. (NYSE:PSE) common unit surrendered pursuant to the Merger Agreement, plus a whole share of Pioneer Natural Resources Company common stock in lieu of any fractional share of Pioneer Natural Resources Company common stock otherwise issuable in the Merger.

However, the plaintiff alleges that the offer is too low and undervalues the company. Indeed units of Pioneer Southwest Energy Partners L.P. (NYSE:PSE) traded in 2011 as high as $35.53.

Furthermore, the plaintiff alleges that the process is also unfair to NYSE:PSE investors. In fact, Pioneer Natural Resources Company owns 100% percent of the general partner of Pioneer Southwest Energy Partners L.P. and owns approximately 52.4% of the 35,713,700 outstanding common units of Pioneer Southwest Energy Partners L.P..

Shares of Pioneer Southwest Energy Partners L.P. (NYSE:PSE) closed on August 26, 2013, at $40.40 per share.

Those who are current investors in Pioneer Southwest Energy Partners L.P. (NYSE:PSE), 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