The Law Firm of Levi & Korsinsky, LLP Announces Investigation into Possible Breaches of Fiduciary Duty by the Board of Copano Energy in Connection with the Sale of the Company to Kinder Morgan Energy Partners, L.P.
NEW YORK, Feb. 1, 2013 /PRNewswire/ -- Levi & Korsinsky is investigating the Board of Directors of Copano Energy ("Copano" or the "Company") (NasdaqGS: CPNO) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Kinder Morgan Energy Partners, L.P. (NYSE: KMP) ("KMP").
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Under the terms of the transaction, Copano shareholders will receive 0.4563 of a KMP share for each share of Copano they own, representing a value of approximately $40.91 a share. The transaction has a total approximate value of $5 billion, including the assumption of debt. A shareholder representing 14% of Copano's outstanding equity has agreed to support the transaction. The investigation concerns whether the Copano Board of Directors breached their fiduciary duties to Copano stockholders by failing to adequately shop the Company before entering into this transaction and whether KMP is underpaying for Copano shares, thus unlawfully harming Copano stockholders.
If you own common stock in Copano and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or http://9nl.com/copano-energy-cpno/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (866) 367-6510
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