NEW YORK, April 28, 2009 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the board of directors of Atlas Energy Resources, LLC ("Atlas Energy" or the "Company") (NYSE:ATN) arising out of their attempt to sell the Company to Atlas America Inc. ("Atlas America"). Under the terms of the agreement, shareholders of Atlas America will receive 1.16 shares of Atlas America for each share of Atlas Energy they own which equates to $14.39 per share based on the April 24, 2009 closing price of Atlas America stock or approximately $12.82 per share based on the average of Atlas America's closing stock price over the last 30 days. The transaction is unfair, given that, among other things, the Company's shares traded above $16.80 per share as recently as February 13, 2009.
If you own common stock in Atlas Energy and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/atn.html
L&K has experience in prosecuting investor securities litigation and an extensive practice in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.