NEW YORK, Sept. 24, 2013 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of PAA Natural Gas Storage, L.P. ("PAA" or the "Company") (NYSE: PNG) concerning the proposed acquisition of the Company by Plains All American Pipeline, L.P. ("Plains").
PAA has entered into a definitive agreement pursuant to which the Company will be acquired by Plains. Under the terms of the agreement, PAA shareholders will receive 0.435 shares of Plains for each PAA share owned, a value of approximately $21.95.
Our investigation concerns whether the PAA board of directors is fulfilling its fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders.
If you own PAA shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Benjamin Sachs-Michaels, Esq. Robert I. Harwood, Esq. Harwood Feffer LLP 488 Madison Avenue New York, New York 10022 Phone Numbers: (877) 935-7400 (212)935-7400 Email: [email protected] Website: http://www.hfesq.com
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.