An investigation for shareholders of Vanguard Natural Resources, LLC (NYSE:VNR) over possible securities laws violations was announced and NYSE:VNR stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/03/2012 -- An investigation on behalf of investors in Vanguard Natural Resources, LLC (NYSE:VNR) shares over possible breaches of fiduciary duties by certain directors and officers at Vanguard Natural Resources in connection with certain transactions was announced.
Investors who are current stockholders in shares of Vanguard Natural Resources, LLC (NYSE:VNR) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Vanguard Natural Resources, LLC (NYSE:VNR) concerning whether certain officers and directors of Vanguard Natural Resources, LLC breached their fiduciary duties in connection with certain transactions.
On February 29, 2012 Vanguard Natural Resources, LLC announced that on February 21, 2012, pursuant to a Unit Exchange Agreement, by and among Vanguard Natural Resources, LLC and its wholly-owned subsidiary, Vanguard Natural Gas, LLC (collectively, the “Vanguard Parties”), and Majeed S. Nami Personal Endowment Trust and Majeed S. Nami Irrevocable Trust (collectively, the “Nami Parties”), the Vanguard Parties agreed to exchange all of the ownership interests in each of Ariana Energy, LLC and Trust Energy Company, LLC, which entities hold the Company’s natural gas and oil assets in the Appalachian Basin (the “Exchange Assets”), for 1.9 million common units representing limited liability company interests in the Company.
However, Vanguard Natural Resources, LLC announced that also said that the agreement was entered into with entities controlled by or affiliated with Majeed S. Nami, who was a founding unitholder when Vanguard Natural Resources, LLC went public in October of 2007.
Shares of Vanguard Natural Resources, LLC (NYSE:VNR) traded in April 2011 as high as $33 per share in April 2011 and during March 19, 2012 as high as $29.57 per share.
However NYSE:VNR shares closed on Friday, March 30, 2012 at $27.62 per share.
Those who are current long term investors in shares Vanguard Natural Resources, LLC (NYSE:VNR), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com