|[May 28, 2014]
SHAREHOLDER ALERT: Brower Piven Announces the Investigation of PetroLogistics LP in Connection with the Proposed Sale of the Company to Flint Hills Resources, LLC
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, has commenced an investigation into possible breaches of
fiduciary duty to current shareholders of PetroLogistics LP
("PetroLogistics" or the "Company") (NYSE: PDH) and other violations of
state law by the board of directors of PetroLogistics relating to the
proposed buyout of the Company by Flint Hills Resources, LLC ("Flint
Under the terms of the transaction, PetroLogistics shareholders will
receive $14.00 for each share of PetroLogistics stock they own, except
for those shares owned by the Company's CEO and other insiders, which
will be exchanged for $12.00 per share. According to Yahoo! Finance, at
least one analyst following PetroLogistics has se a target price of
$17.00 per share.
The firm's investigation seeks to determine, among other things, whether
the Company's board of directors breached their fiduciary duties by
failing to maximize shareholder value before agreeing to enter into this
transaction, and whether Flint Hills is underpaying for PetroLogistics
If you currently own common stock of PetroLogistics and would like to
learn more about the investigation being conducted by Brower Piven,
without cost or obligation to you, 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 email@example.com
or by telephone at (410) 415-6616. Those who inquire by email are
encouraged to include their mailing address and telephone number.
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.
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