SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed Sale Of Crestwood Midstream Partners LP And Enco...
11 Maggio 2015 - 8:00PM
Business Wire
The securities litigation law firm of Brower Piven, A
Professional Corporation, has commenced an investigation into
possible breaches of fiduciary duty and other violations of state
law by the Board of Directors of Crestwood Midstream Partners LP
(“Crestwood” or the “Company”) (NYSE: CMLP) relating to the
proposed buyout of the Company by Crestwood Equity Partners LP
(“Crestwood Equity”).
Under the terms of the transaction, Crestwood’s unitholders will
receive 2.75 units of Crestwood Equity for each Crestwood unit they
own. The transaction may undervalue Crestwood and may result in a
substantial loss for many shareholders. For example, the offer
price was announced just prior to the Crestwood’s announcement of
strong financial results, and the offer price is significantly
below Crestwood’s book value and 52-week high stock price.
The firm’s investigation seeks to determine, among other things,
whether the Company’s Board of Directors failed to satisfy their
duties to shareholders, including whether the Board adequately
pursued alternatives to the acquisition and whether the Board
obtained the best price possible for the Company’s shares of common
stock.
If you currently own common stock of Crestwood and believe that
the proposed buyout price is too low, or you would like to learn
more about the investigation being conducted by Brower Piven,
please visit our website at
http://www.browerpiven.com/currentinvestigations.html. You may also
request more information by contacting Brower Piven either by email
at hoffman@browerpiven.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in
litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s.
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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