Law Offices of Howard G. Smith Announces Investigation On Behalf of Shareholders of CNX Gas Corporation
25 Marzo 2010 - 12:19AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims against the board of directors of
CNX Gas Corporation (“CNX Gas” or the “Company”) (NYSE:CXG) related
to the Company’s agreement to be acquired by CONSOL Energy Inc.
(“CONSOL”), which currently owns approximately 83.3% of the
outstanding shares of CNX Gas common. The proposed transaction is
valued at approximately $363 million.
Under the terms of the proposed agreement, CONSOL will commence
a cash tender offer by May 5, 2010, to acquire all of the shares of
CNX Gas common stock that it does not currently own for $38.25 per
share. In connection with the deal, T. Rowe Price Associates, Inc.
has agreed to tender approximately 9.5 million shares of CNX Gas
that its investment advisory clients own into the offer. The
investigation concerns possible breaches of fiduciary duty and
other violations of law related to approval of the transaction by
the CNX Gas board of directors.
If you own shares of CNX Gas Corporation, if you have
information or would like to learn more about these claims, or if
you wish to discuss these matters or have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at
(888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or
visit our website at http://www.howardsmithlaw.com.
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