WeissLaw LLP Files Class Action Suit Against PVR Partners LP -- PVR

        Print
| Source: WeissLaw LLP

NEW YORK, Dec. 16, 2013 (GLOBE NEWSWIRE) -- WeissLaw LLP ("WeissLaw") today announced that a class action has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of all holders of PVR Partners LP ("PVR") (NYSE:PVR) common units on October 9, 2013, in connection with the proposed takeover of PVR by Regency Energy Partners LP ("Regency") (the "Proposed Transaction").

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Michael Rogovin or Kelly Keenan of WeissLaw at (888) 593-4771 or via e-mail at stockinfo@weisslawllp.com. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint charges PVR and the Board of Directors of PVR's general partner, PVR GP LLC ("PVR GP") (the "Board"), with violations of the Securities Exchange Act of 1934 ("1934 Act"). PVR is a limited partnership that owns and operates a network of natural gas midstream pipelines and processing plants, and owns and manages coal and natural resource properties.

The complaint alleges that PVR, the Board, Regency and its affiliates breached their duties, and/or aided and abetted such breaches, in connection with their attempt to consummate the Proposed Transaction pursuant to an unfair process and for an unfair price. In addition, the complaint alleges PVR and the Board disseminated a false and misleading Registration Statement on Form S-4 (the "S-4") in violation of §§14(a) and 20(a) of the 1934 Act and Rule 14a-9 promulgated thereunder in connection with the Proposed Transaction.

On October 9, 2013, PVR and Regency entered into a definitive agreement (the "Merger Agreement") whereby Regency would acquire all of PVR's outstanding units. Thereafter, on November 8, 2013, defendants caused the S-4 to be filed with the SEC and disseminated in connection with the upcoming unitholder vote on the Proposed Transaction. The complaint alleges the S-4 contains a number of false and misleading statements that are material to unitholders who are expected to rely upon the S-4 to determine whether to approve the Proposed Transaction. The S-4 omits a number of material facts necessary to make statements made therein not false and misleading, including the events leading to the Merger Agreement, the analyses conducted by the Board's financial advisor, and PVR's prospective financial information.

Plaintiff seeks injunctive and equitable relief on behalf of all PVR unitholders on October 9, 2013. The plaintiff is represented by WeissLaw, which has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. The firm has recovered over a billion dollars for defrauded clients. Please visit http://www.weisslawllp.com/ for more information.

WeissLaw LLP
Michael Rogovin
Kelly Keenan
(888) 593-4771
(212) 682-3025